[threeseed]

Instagram had no revenue at acquisition.

Headcount always grows disproportionally whenever you start dealing with payments.

Not just directly taking them but all of the associated compliance and legal issues.

[iainctduncan]

Ah good point! I didn't think about international payments in my first WAG - you're right that that would certainly need some people. So I would up my initial guess based on that, like maybe up another 25-30%, but that would still land us at around where songtradr is going if they are laying off 50%.