The board and executives work for the shareholders. They are required to maximize shareholder value, and taking a lower offer for personal gain is illegal. That is the concern here.
That said, it's hard to have sympathy for investors in a company that flipped for $750M in under two years.
I have a problem with your second statement. Why is it hard for you?? Why does the timing have anything to do? If anything, apploud to Mr. Systrom for building a service that attracted millions in such a short period of time. Every one of us trying to build a startup would love to have the same exit.
That said, it's hard to have sympathy for investors in a company that flipped for $750M in under two years.