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The most monocle-dropping tech acquisitions of the past five years

The most monocle-dropping tech acquisitions of the past five years
From TechCrunch - September 11, 2017

Facebook had been working on a standalone photo app, so its acquisition of Instagram wasnt shockingbut the $1 billion price tag was widely derided because Instagram made no revenue at the time. But the deal has paid off. In its last earnings report, Facebook said Instagram now has 700 million usersa gigantic increase from 30 million when the acquisition was announced. While Instagrams revenue is still undisclosed, the launch of its Snapchat clone, Stories, was successfulenough to pressure Snaps user growthsweet revenge considering that Snap CEO Evan Spiegel reportedly turned down a $3 billion offer from Facebook in 2013.

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