Multi-Millionaire Employees of Instagram

Instagram is one of the most popular and personal forms of social media. It has built up a very good reputation, with users really thinking about and taking pride in what they post on their account. It is no wonder the co-founder and now CEO, Kevin Systrom, was named to Fortune’s 40-inder-40 list with the popularity of his app [1].

In April 2012, when Instagram was bought over by Facebook for a staggering $1 billion, Systrom became a multi-millionaire when he took his share of the money amounting to a cool $400 million. His fellow co-founder, Mike Krieger, who owned 10% of the company, inherited $100 million from the sale [2]. The two men were extremely fortunate to be in such a good financial position at such a young age, and after only starting the company 15 months previous to this life changing deal. I would definitely be very happy if I was in their situation, as I’m sure everyone would be.

The founders of the app were not the only people to benefit from the sale to Facebook. At the time of purchase, Instagram had only 13 employees. These 13 people were highly rewarded for the work they had done for the company by dividing out 10% of the purchase price, $100 million, between them, making them also multi-millionaires [2], $77 million millionaires to be precise. It was a very sweet deal for working in a company for such a short period of time.

The number of employees has not greatly increased since this time, the company having only 25 employees now, including a business operating director brought into place by Facebook [3]. The company has kept the workforce small and the workplace intimate and relaxed, with lots of communal space for the employees to sit and meet together. Below in are photos of the interior of the main office [4], which is located in San Francisco, California where the company originates from.

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From these pictures I can see it would be a very nice place to work. It looks relaxed ad open with nice natural lighting. The workers in Instragm say the offices are very welcoming, relaxing yet stimulating to work in. The interior design is influenced by the social media company’s brand [4], seen in the photo below. I would certainly find this a very nice work environment to be in, it is spacious and creatively designed. It is an office but is relaxed and fun rather then dull and daunting, which ordinary office places seem to me.

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I would 100% like to work in Instagram. It is my favourite app to use. It stays true to what the users like and what they promised when they first started. The work team is obviously creative, intelligent but thoughtful and responsive to ideas coming from the people who are making their company successful which is rare to see as companys similar to this one are often more concerned with making money and beating out the compition. Instagram has really made a reliable and promising name for themselves and I hope the employees and CEOs of the company continue to treat the app and its users as well as they have been.

~ Finola Barry

[1] – http://investing.businessweek.com/research/stocks/private/person.asp?personId=99160377

[2] –http://www.dailymail.co.uk/news/article-2127343/Facebook-buys-Instagram-13-employees-share-100m-CEO-Kevin-Systrom-set-make-400m.html

 [3] – http://business.time.com/2013/04/09/a-year-later-instagram-hasnt-made-a-dime-was-it-worth-1-billion/

[4] – http://www.designboom.com/architecture/behind-the-scenes-at-instagrams-san-francisco-headquarters-12-06-2013/

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