You Think $1 Billion Was Expensive For Instagram? They Originally Asked For $2 Billion

Facebook raised a lot of eyebrows when it bought Instagram for $1 billion last week.

But that's actually a bargain compared with Instagram CEO Kevin Systrom's original asking price of $2 billion.

That spectacular number appears in Wall Street Journal, which this evening ran down the details of the intense negotiations between Systrom and Facebook CEO Mark Zuckerberg.

Zuck apparently phoned Systrom on Thursday, April 5, after talking to Facebook COO Sheryl Sandberg and telling her he wanted to buy the company. He reached out directly because he was afraid that going through lawyers, as is normally done with big M&A deals, would have turned Systrom off.

Systrom drove from his home in San Francisco to Zuckerberg's house in Palo Alto repeatedly over the next three days, hammering out a deal. Zuck only told the board of directors about it on Sunday, April 8.

Read more: businessinsider.com

CCTV Interview Malaysian Businessman Robert Kuok Hock Nien

This is a CCTV interview Robert Kuok Hock Nien. Robert Kuok is the richest person in Malaysia ($12.4B, 2011 Source forbes.com). In this interview, Robert Kuok will share with us how his success and the value should have for a business person.

Good Quote from Robert Kuok "Need to be gutsy, if not you will let go all the opportunity come to you"

Bloomberg Billionaires Index

Well, this should give Forbes—known for their annual "rich lists"—a run for their money.

Last night, Bloomberg released the "Bloomberg Billionaires Index," the first daily global ranking of the richest people in the world as part of their coverage of wealth.

The index is available here, and its most noticeable characteristic is that it is built to change daily depending on stock fluctuations and economic/company news.

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From businessinsider.com