It's official: Facebook really does "like" Instagram. The acquisition was announced yesterday, but actually was completed on Aug. 31, when Facebook shares closed at $18.06 apiece. The result is a purchase price of approximately $715 million, comprised of 23 million shares of Facebook stock and $300 million in cash—significantly lower than the buzzy $1 billion deal agreed to when Facebook was worth a lot more. Prior to its exit, Instagram raked in $57.5 million in funding over three rounds, the last a whopping $50 million, from VC behemoths including Andreessen Horowitz, Baseline Ventures, Benchmark Capital, Greylock Partners, Lowercase Capital, Sequoia Capital and Thrive Capital.
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