Instagram could be one of the best deals of the last decade

Gigaom

The news that Citigroup now thinks Instagram could be worth as much as $35 billion likely caused some mouths to fall open last week, and the list of those who found themselves agape probably included co-founder Kevin Systrom and Twitter CEO Dick Costolo, although for very different reasons. Whether Citigroup has the actual number right or not is impossible to say — but what is clear is that the Instagram acquisition could be one of the smartest things that Facebook has ever done, and one of the best deals of the past decade.

The reason why Kevin Systrom might be shaking his head a little at the valuation is that such a huge number implies he might have sold the company too soon, something that Silicon Valley founders and their financial backers often worry about after the fact. Of course, it’s difficult to say whether Instagram would ever have gotten…

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