Umm.. further research maybe needed but this was on Cnet might be real:
Facebook CEO Zuckerberg made US$1 billion Instagram purchase on his own - Crave - CNET Asia
That is real. Z didn't tell the board (didn't know about Marc Andressen sitting in the livingroom.)
13 employees. 0 cash flow. Wanted $2B, got only $1B.
Definite bubble.
I just wish I was some part of it.