[msuster]

I didn't miss that point. I agree with what you say. But - there are very few companies that could pull this off so my post was to point this out to people.

It may be obvious to you but all the chatter this week has been about getting big rounds of VC before M&A. My thesis was that this will backfire for 99% of companies. In Instagram's case it worked like a charm. Precisely because they were so valuable to Facebook.

So, yes, I think Instagram "pulled an Instragram" if I could be so recursive.