Facebook Buys Instagram - Facebook snapped up the vastly common photo-sharing app Instagram Monday, for roughly $1 billion in an exceedingly combination of money and stock. Facebook has acquired Instagram for the rumored value within the neighborhood of $1 billion, Facebook Instagram.
Facebook CEO Mark Zuckerberg announced the acquisition in an exceedingly post on his Facebook Timeline Monday.
“For years, we have targeted on building the simplest expertise for sharing photos along with your friends and family,” Zuckerberg said within the post. Facebook expects keeping options inside the app that permit photos to be revealed on different social networks, and also the ability to possess followers and follow those who do not seem to be essentially your Facebook friends.
“We can attempt to learn from Instagram’s expertise to create similar options into our different merchandise,” Zuckerberg said. “At identical time, we will attempt to ease Instagram still grow by using Facebook’s robust engineering team and infrastructure.”
Instagram CEO Kevin Systrom echoed Zuckerberg’s statements on the Instagram company blog adding “We’re psyched to be joining Facebook and are excited to create a much better Instagram for everybody.”
Instagram launched its iOS app in October 2010, and came to Android for the primary times last week.
The post goes on to mention that Facebook is committed to growing Instagram independently and offers assurances that Instagram’s ability to integrate with different social networks will not be impeded.
Zuckerberg closes his post with, facebook Instagram..