If you look at how much Facebook paid for Instagram on a per user basis, you can see that it got a very good deal, says Andy Baio at Wired.

Baio, who has built a few startups in his day, compiled data on big acquisitions over the last ten years to argue that Instagram is not a sign that we’re in another tech bubble. As you can see, the per user price Facebook paid is cheap compared to other big acquisitions.

chart of the day, startups cost per user, april 2012

Why $1 Billion Is A Good Price For Instagram