SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
Overnight, 3 billion dollar deals were signed charting the past, present and future. The first sealed was AT&T selling the Yellow Pages to Cerberus Capital Management for $950 million in cash & debt. Soon after, Microsoft announced it would buy AOL patents for $1 billion, and near dawn Manila time, the bet of the future was announced by the CEOs of Facebook and Instagram. Facebook’s Mark Zuckerberg in a Facebook posting said his company would buy the 1 and half year old photo-sharing site, Instagram, for $1 billion. Instagram has 13 employees, putting the value per employee at a whopping $77 million a head!
Read more about the Facebook-Instagram deal and whether it was worth it on Rappler.
Read more about the Microsoft deal on the New York Times and about the Yellow Pages deal on the Wall Street Journal.
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