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by horatiumocian
5180 days ago
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A16Z invested in PicPlz, which was a competitor to Instagram, after the initial investment in Instagram (which was then called Burbn and was doing something else). So, after Burbn pivoted to Instagram, A16Z had to choose between 2 competing products, and they chose PicPlz for further investments. Not an inspired choice, but they still took a good chunk of money from Instagram's $1B acquisition. |
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