Instagram's $1 billion Facebook deal has proved a hot topic among the most recent crop of Y Combinator graduates. Among them is Nikki Durkin, the 20-year old Australian founder of 99dresses, which secured $17,000 from the most recent round of funding from the legendary Silicon Valley incubator, and who is currently in the US meeting potential investors.
Facebook's cash stash has just been depleted by presumably several hundred million dollars, given that the company's big Z has announced on his personal page that his company has just paid $1b in cash and shares for a photo app called Instagram.
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