Facebook Buys Instagram for $1 Billion
Mark Zuckerberg makes billion-dollar deals. His recent conquest? Instagram.
For roughly $1 billion in cash and stock, the social networking titan has snatched up the popular photo-sharing app to build it independently and create the best photo-swapping experience. The Facebook head says, “For years, we’ve focused on building the best experience for sharing photos with your friends and family. Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.”
It didn’t take long for the news to captivate the Internet. Twitter exploded with praise for the young, geeky millionaire and his latest venture. If you’re still hype about Instagram for Android, anticipate even more technically forward advances with this collaboration.
Read the full official announcement on the next page…