Revealed: How Twitter’s secret offer for Instagram made Facebook pay $1B

The secret details of the $1 billion deal between Facebook and Instagram are more convoluted than anyone thought. VentureBeat has learned that Instagram chief executive and co-founder Kevin Systrom first got an offer and a term sheet from Twitter, then shrewdly doubled the value of his young company by striking a deal with Facebook.

Facebook’s growth by the numbers (infographic)

Buried in Facebook’s 21,890 word registration statement with the U.S. Securities and Exchange Commission are a ton of new facts and figures about the social media company. Since there’s a larger-than-usual amount of buzz surrounding Facebook upcoming initial public offering, one of the best ways to cut through the noise is to look at the numbers.

How “The Hacker Way” helped propel Facebook to market dominance

Facebook’s core values include a powerful, results-oriented, anti-theoretical philosophy called “The Hacker Way,” according to founder Mark Zuckerberg.
“The Hacker Way is an approach to building that involves continuous improvement and iteration,” Zuckerberg writes. “Hackers believe that something can always be better, and that nothing is ever complete. They just have to go fix it — often in the face of people who say it’s impossible or are content with the status quo.”

Mark Zuckerberg owns 28.2% of Facebook, Peter Thiel has 2.5%

Facebook CEO Mark Zuckerberg owns 28.2 percent of the company, according to Facebook’s just-released IPO S-1 filing with the Securities and Exchange Commission.
Facebook’s initial public offering is one of the most hyped technology events of the year, and the company is expected to debut on the stock market in May. Its stock ticker symbol will be “FB.” The company has not yet named a starting price has yet been named, but Facebook said in the filing that it expects to raise at least $5 billion in the IPO.

How pattern matching can work for minority entrepreneurs

Editor’s note: CNN’s upcoming documentary, Black in America 4, has sparked a heated discussion about race in the tech industry. VentureBeat has asked several black entrepreneurs to contribute their opinions prior to the airing of the show on Sunday November 13. Read the rest of VentureBeat’s stories on diversity in tech.