|Instagram Investor Responds to Critics|
|Sunday, 22 April 2012 22:24|
When Instagram was sold to Facebook for $1 billion, investors at Andreessen Horowitz walked away with $78 million: a 312% return on a $250,000 investment. When an article in the New York Times suggested that the venture capital firm should have gotten more, co-founder Ben Horowitz fired back with a blog post defending the firm’s decision to focus on an Instagram competitor called PicPlz.
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