1. Fausty82's Avatar
    Breaking: Facebook to Acquire Instagram for $1 Billion - Kara Swisher - News - AllThingsD

    Facebook to Acquire Instagram
    MENLO PARK, CALIF. April 9, 2012 Facebook announced today that it has reached an agreement to acquire Instagram, a fun, popular photo-sharing app for mobile devices.
    The total consideration for San Francisco-based Instagram is approximately $1 billion in a combination of cash and shares of Facebook. The transaction, which is subject to customary closing conditions, is expected to close later this quarter.
    Mark Zuckerberg, founder and CEO of Facebook, posted about the transaction on his Timeline:
    Im excited to share the news that weve agreed to acquire Instagram and that their talented team will be joining Facebook.
    For years, weve focused on building the best experience for sharing photos with your friends and family. Now, well 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.
    We believe these are different experiences that complement each other. But in order to do this well, we need to be mindful about keeping and building on Instagrams strengths and features rather than just trying to integrate everything into Facebook.
    Thats why were 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.
    We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.
    These and many other features are important parts of the Instagram experience and we understand that. We will try to learn from Instagrams experience to build similar features into our other products. At the same time, we will try to help Instagram continue to grow by using Facebooks strong engineering team and infrastructure.
    This is an important milestone for Facebook because its the first time weve ever acquired a product and company with so many users. We dont plan on doing many more of these, if any at all. 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.
    Were looking forward to working with the Instagram team and to all of the great new experiences were going to be able to build together.
    04-09-2012 12:15 PM
  2. BLiNK's Avatar
    jesus ****ing christ.
    04-09-2012 12:19 PM
  3. Peligro911's Avatar
    Well there went instagram now it will be just a big pile like facebooks app


    Sent Into Orbit from my iPhone 4S using Tapatalk
    04-09-2012 12:23 PM
  4. kch50428's Avatar
    04-09-2012 01:19 PM
  5. jsntrenkler's Avatar
    As much as I would like to think that this is a good thing I can't bring myself to believing that. Will be interesting to see what they do to them.
    04-09-2012 01:24 PM
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