Facebook Buys Instagram for $1B

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Facebook dropped a surprise on the Internet on Monday with the announcement that it is buying Instagram in a deal that’s worth about US$1 billion. Instagram is a popular photo sharing and social networking service that until just recently offered an app only for the iPhone.

Facebook Gives Instagram a $1B LikeFacebook Gives Instagram a $1B Like

According to Facebook CEO Mark Zuckerberg, Instagram will continue to run as an independent company. “This is an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users,” he said in a Facebook post. “We don’t plan on doing many more of these, if any at all.”

Since Facebook will be able to work more closely with Instagram’s team, there’s a good chance users will get easier ways to add photos to their timelines — a Facebook feature that currently isn’t as strong as it could be.

Instagram CEO Kevin Systrom did his part to reassure users that the photo sharing service isn’t disappearing as part of the deal. “We’ll be working with Facebook to evolve Instagram and build the network,” he said in a blog post. “We’ll continue to add new features to the product and find new ways to create a better mobile photos experience.”

Mr. Systrom added that Instagram will continue to support sharing content with other social networks, too. “The Instagram app will still be the same one you know and love,” he said.

Comments

Lee Dronick

?We don?t plan on doing many more of these, if any at all.?

I wouldn’t take his word on that.  Such acquisitions are probably vital to their vitality?

furbies

FaceBook’s new motto: “We don’t compete, we consume!”

archimedes

I suppose all good (?) things must come to an end.

I wish the Instagram folks well in whatever they will be doing after they quit their now Facebook-owned company.

archimedes

FaceBook?s new motto: ?We don?t compete, we consume!?

This might be a good sign that Facebook is running out of ideas and going into Google mode.

furbies

Google mode

Exterminate Exterminate Exterminate     (? la Dalek)


The FCC and Congress “I’ve got a Sonic Screwdriver and I’m not afraid to use it!”

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