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Facebook Acquires Instagram for $1 Billion


Posted by on April 9, 2012


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Facebook Acquires Instagram for $1 Billion? Who heard right, Facebook bought out Instagram for $1 Billion and is inviting their talented team to join Facebook’s staff.

Zuckerberg announced on his Facebook Timeline Monday afternoon that the Instagram team would be offering the best experience on Facebook when it comes to sharing photos. This is the social network’s largest investment to date (nothing else comes close).  Zuckerberg also mentioned that he would focus on building on Instagram’s strengths rather than integrating everything into Facebook.

Mashable went on to report the story as well saying This is the first time Facebook has acquired a company or product with so many users. “We don’t plan on doing many more of these, if any at all.” Zuckerberg said. “But providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.”

“That’s why we’re committed to building and growing Instagram independently. Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people.”

“It’s important to be clear that Instagram is not going away,” Instagram CEO Kevin Systrom wrote on his company blog. “We’ll be working with Facebook to evolve Instagram and build the network. We’ll continue to add new features to the product and find new ways to create a better mobile photos experience.”

We were excited when Instagram was available to Android users! Now it’s on the social network! Tell us your thoughts in the comments!

 

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One Response to “Facebook Acquires Instagram for $1 Billion”

  1. [...] It’s been quite some time since Zuckerberg founded Facebook from his dorm room in Harvard, and the days of worrying about costs and recruiting angel investors are long behind them. However, $15 billion dollars in cash is likely to give Facebook the means to make even more purchases and acquisitions of startups with great ideas in both the social and mobile spheres – just as we saw with Facebook’s higly contested billion dollar aquisition of Instagram. [...]

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