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  • Facebook Buys Instagram for $1 Billion


    It's been said that having Instagram on the iPhone is so common these days that the app should probably just be installed by Apple on all iPhones and make it native to the device. That's how popular the photo sharing platform has become.

    To that end, Facebook isn't letting a golden opportunity go to waste. On Monday, the social networking behemoth confirmed that its buying Instagram for $1 billion in cash and stock. The deal is expected to close sometime before the end of the second quarter.

    To date, it's Facebook's biggest acquisition and one that comes just weeks before Facebook goes public next month on NASDAQ in one of the biggest IPOs in recent Wall Street history.

    "We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience," Facebook CEO Mark Zuckerberg said this afternoon. "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."

    Just last week, much to the dismay of many iPhone loyalists, the Android version of Instagram was released. It saw more than 1 million downloads in the first 12 hours of availability.

    Source: CNN
    This article was originally published in forum thread: Facebook Buys Instagram for $1 Billion started by Michael Essany View original post
    Comments 25 Comments
    1. 2k1's Avatar
      2k1 -
      I still don't have the app yet lol. Been thinking of gittin it
    1. fabbuloso's Avatar
      fabbuloso -
      i wish apple bought it.I just dont like facebook that much.I think IG is gonna suck at facebook.
    1. Mrteacup's Avatar
      Mrteacup -
      I like this but I agree I don't like Facebook to much either.. They kind of try to ind ways to limit my control over publicity of things!!
    1. Pocyahtstu's Avatar
      Pocyahtstu -
      I only paid I think was 99c , mark paid too
      Much..... Jk jk, it's crazy what an app developer can make these days
    1. alcapwn27's Avatar
      alcapwn27 -
      former instragram owners won!
    1. mutley's Avatar
      mutley -
      hopefully they will rip out the stupid UDID way its locked to a specific device (although i understand apple are removing this "feature" anyway).
    1. c0dy's Avatar
      c0dy -
      I wish IG would die.
    1. seandiego's Avatar
      seandiego -
      GREEEAATT! As if all those obnoxious instacrap photos weren't annoying enough, now they are about to quadruple.
    1. redwolf's Avatar
      redwolf -

      $1 BILLION DOLLAR!
    1. *T*'s Avatar
      *T* -
      Why are apple users mad that it was released on android? Fk off
    1. steve-z17's Avatar
      steve-z17 -
      Well, there goes that program....
    1. Bigred4430's Avatar
      Bigred4430 -
      Great another way the government can spy on all of us. You do know that's the only reason Facebook was made is to spy in everyone right? We're all doomed in the end.
    1. teej1410's Avatar
      teej1410 -
      Quote Originally Posted by 2k1 View Post
      I still don't have the app yet lol. Been thinking of gittin it
      I don't have it either. And I'm not thinking of getting it.
    1. DonRSD's Avatar
      DonRSD -
      Quote Originally Posted by redwolf View Post

      $1 billion dollar!
      lol
    1. rkswat's Avatar
      rkswat -
      I don't have this app and really don't even know what it does.... don't care to.
    1. ankit_jedi's Avatar
      ankit_jedi -
      $1 Billion??!! they could have downloaded it for FREE!!!
    1. kinven's Avatar
      kinven -
      Quote Originally Posted by ankit_jedi View Post
      $1 Billion??!! they could have downloaded it for FREE!!!
      FB wants to take advantage of the app to make much more money.
    1. svolam's Avatar
      svolam -
      Quote Originally Posted by fabbuloso View Post
      i wish apple bought it.I just dont like facebook that much.I think IG is gonna suck at facebook.
      I think for users it is better if FB bought than Apple. Apple would have started charging for installing while it is free on FB.
    1. Jasmine San's Avatar
      Jasmine San -
      Quote Originally Posted by 2k1 View Post
      I still don't have the app yet lol. Been thinking of gittin it
      The app itself is not too different from a large number of similar apps. Spending a billion dollars on a company that was just looking for a few million bucks is very irresponsible. The Instagram acquisition in perspective.. The downfall of FB has started.
    1. one1's Avatar
      one1 -
      It's photobucket with social networking. I don't see the value............. I don't even see a tenth of the value.