Earlier tonight, we brought you the news that Facebook was set to acquire photo-sharing service Instagram, for a reported $1 Billion.
Following the shock announcement, Dennis K. Berman (@dkberman) of The Wall Street Journal shared the amusing fact that Facebook’s valuation of the start-up appears to outstrip the current market worth of long-established news publication, The New York Times.
Remember this day. 551-day-old Instagram is worth $1 billion. 116-year-old New York Times Co.: $967 million.
— Dennis K. Berman (@dkberman) April 9, 2012
Noting that we should “Remember this day,” Berman highlighted that the 551-day-old start-up which was just acquired by Facebook for $1 Billion has beaten the 116-year-old New York Times Company by a fair few million, with the company currently worth $967 Million, according to Google Finance.