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04-09-2012, 12:48 PM #1
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. Th 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.
04-09-2012, 01:06 PM #2
I still don't have the app yet lol. Been thinking of gittin it
04-09-2012, 01:18 PM #3
i wish apple bought it.I just dont like facebook that much.I think IG is gonna suck at facebook.
04-09-2012, 01:29 PM #4
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!!
04-09-2012, 01:46 PM #5
I only paid I think was 99c , mark paid too
Much..... Jk jk, it's crazy what an app developer can make these days
04-09-2012, 01:47 PM #6
former instragram owners won!
04-09-2012, 01:53 PM #7
hopefully they will rip out the stupid UDID way its locked to a specific device (although i understand apple are removing this "feature" anyway).
04-09-2012, 03:04 PM #8
I wish IG would die.
04-09-2012, 03:29 PM #9
GREEEAATT! As if all those obnoxious instacrap photos weren't annoying enough, now they are about to quadruple.
04-09-2012, 03:33 PM #10
$1 BILLION DOLLAR!
04-09-2012, 03:34 PM #11
Why are apple users mad that it was released on android? Fk off
04-09-2012, 04:00 PM #12
Well, there goes that program....
04-09-2012, 04:30 PM #13
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.
04-09-2012, 04:43 PM #14
04-09-2012, 08:01 PM #15
04-09-2012, 08:14 PM #16
I don't have this app and really don't even know what it does.... don't care to.
04-09-2012, 08:22 PM #17
$1 Billion??!! they could have downloaded it for FREE!!!
04-09-2012, 08:38 PM #18
04-09-2012, 11:18 PM #19
04-10-2012, 12:43 AM #20Not worth even a few million.
The Instagram acquisition in perspective.. The downfall of FB has started.