I try to not say this for every PandoMonthly, but our fireside chat with Kevin Systrom was one of our best yet. He was surprisingly candid for someone that became part of the Facebook behemoth just a month ago and offered plenty of insight for entrepreneurs.
Covering everything from how to go about the fundraising process – including how it felt when Andreessen Horowitz decided not to invest in Instagram’s Series A round – to growing a company without waiting for “hockey stick growth,” Systrom’s advice boils down to combining passion with pragmatism. Many startups make the mistake of thinking that they’re just building a product, he said, but in fact many have to carry that same passion to building a company.
Systrom also talked about the acquisition process, saying that even a $1 billion exit doesn’t make Instagram a “win” in his eyes. He also squashed the rumor that Facebook “stole Instagram from Jack Dorsey’s arms,” saying that Twitter didn’t even make an offer for Instagram.
The full video is available below.