Bangalore: In the era of multibillion dollar startups, losing a fortune neither need time nor reasons-“You get rich one day, you lose it the next day.”

Up and downs in the market took several companies for a roller coaster ride last year, especially some tech companies and their CEOs, who lost their fortunes within the blink of an eye.    

Here is a list of five of them who got heavily battered last year.

#5 Kevin Systrom

Instagram

The Instagram-Facebook buyout was one of the most celebrated acquisitions in recent time. With the $1 billion evaluation of Instagram, Kevin Systrom, 28 year old CEO of this company instantly became a millionaire. He got $400 million from his company which he hasn’t even thought of monetizing.

But the things didn’t work out as expected. As a part of the deal, Facebook gave $300 million in cash and another 23 million shares of the company to Instagram. Facebook’s shares were valued at $23 which covers the $690 million shortage.

We know what happened after the IPO, Facebook’s value came down to half of what is expected. Instagram instantly lost $300 million and the company’s CEO Kevin himself lost $ 120 million. As the Facebook shares are still on its way down, we can expect Systrom to lose more.