
When Instagram was sold to Facebook for $1 billion, investors at Andreessen Horowitz walked away with $78 million: a 312% return on a $250,000 investment. When an article in the New York Times suggested that the venture capital firm should have gotten more, co-founder Ben Horowitz fired back with a blog post defending the firm’s decision to invest more money in an Instagram competitor called PicPlz.







I’m knee-deep in launching a new 

