Facebook could have bought The New York Times for less.
That's right, the $1 billion in cash and stock that Facebook paid for Instagram Monday values the two-year old mobile photo-sharing app more than The New York Times.
Instagram, a social network built around cellphone photos that has yet to make any money and has employed fewer than seven people for much of its existence, is now worth more in the eyes of its acquirer than a host of other name-brand public companies, including a major office supplies retailer with more than 1,100 stores, an 80-year old cosmetics company and the third-largest pizza chain in the United States.
Here's a list of companies now worth less, according to YChart's market cap rankings, than Instagram:
Drew Guarini contributed to this report.