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Facebook Set to Acquire Instagram for $1 Billion Dollars

Facebook Set to Acquire Instagram for $1 Billion Dollars

by Baron W.April 10, 2012

The popular phone app, Instagram, is about to become a part of the social networking giant, Facebook. Instagram recently made its way to fame by allowing people to capture photos of themselves, and then edit these photos on the fly, and then upload them to the Instagram website.  It comes to no surprise that Facebook would jump on the Instagram bandwagon and try to acquire them, especially when taking into account how Facebook operates now with the new timeline feature.

People who currently have Instagram shouldn’t worry about any major changes to the program; it will most  likely just be enhanced to allow integration with Facebook. I think this is a smart business decision for Facebook, it shows that they’re willing to adapt to an ever changing market and will most likely ensure their longevity in the future.

To read the full press release, click the tab below:

[toggle_box title=”Press Release” width=”Width of toggle box”]

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:

I’m excited to share the news that we’ve agreed to acquire Instagram and that their talented team will be joining Facebook.

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.

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 Instagram’s strengths and features rather than just trying to integrate everything into Facebook.

That’s why we’re 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 Instagram’s experience to build similar features into our other products. At the same time, we will try to help Instagram continue to grow by using Facebook’s strong engineering team and infrastructure.

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. We don’t 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.

We’re looking forward to working with the Instagram team and to all of the great new experiences we’re going to be able to build together.


Source: Allthingsd

About The Author
Baron W.
  • buan

    this Culture sucks…

  • Joanne Mefford

    how do u use facebook? like, what is poke, what is wall-wall, how can u speak to someone, how do u perform games, how do u discover people, etc.

  • Malinda Shurtliff

    I watched The Social Network the other night and left it quite significantly hating Mark Zuckerberg. Then I did some investigation and identified out that a lot of the movie was not accurate, such as the portrayal of Zuckerberg as a ruthless a-hole.

    How could Fincher use his identify and story and be so inaccurate? Most bio-pics are not this egregious.

  • Kelli Shanklin

    how do u delete a facebook and images other consider of u. i dont assume it is fair that anyone can take a pic of you and just publish it up. it truly is annoying when a image u dont like is up and every person can see the pic u dont like . Its still on there page if they untag u

  • Amy Lemaster

    how do u use facebook? like, what is poke, what is wall-wall, how can u chat to someone, how do u play games, how do u uncover people, etc.

  • Serena Frieden

    how do u delete a facebook and photos other just take of u. i dont believe it is honest that any person can consider a pic of you and just post it up. it really is frustrating when a image u dont like is up and absolutely everyone can see the pic u dont like . Its nonetheless on there page if they untag u

  • Margery Degarmo

    If you have facebook then remedy this for me! Ok. Every Person should know that they have a new model out of facebook. Well…if you never ya do now! But, I was just wondering do they permit you have layouts/backgrounds yet?! Due To The Fact I reallly want one so i am hoping but, i am not sure. So just make sure you help! Thank You! 😀

  • have faith

    If you have facebook then answer this for me! Ok. Everyone should know that they have a new version out of facebook. Well…if you don’t ya do now! But, I was just wondering do they let you have layouts/backgrounds yet?! Because I reallly want one so i’m hoping but, i’m not sure. So just please help! Thank You! 😀

  • JimT

    how do u use facebook? like, what is poke, what is wall-wall, how can u talk to someone, how do u play games, how do u find people, etc.

  • Coffee t

    IS there any way I can create a bumper sticker on facebook? If so how?

  • thexbox360player

    I have a 3rd gen iPod Touch. It has no microphone and no camera. I would love to join Instagram but how could I upload pictures if I have no camera? And if there is no other way, how can I get and iPod for $100 or less?

  • thexbox360player

    ok, i am 15 years old and i want to have a facebook account. I’m not going to be innapropriete things on there i just want one so i can meet new frineds and just mess around with my friens on there and talk to them because they all have facebooks except me. So i decided to talk to my mom about it, and she said i could but she would want my password and to be allowed to look on my profile and my friends profiles too. I was cool with all that except for the part about her looking at my friends files. I know they have some bad stuff and shes kind of like crazy and would like start talking to their parents and them about it. Any tips? I really really want one so please help. And I don’t want to create fake ones or just make one even if she says no. She always figures it out when I do that.

  • _marky_mark_

    Ok, I’ve seen several new groups and/or pages talking about Facebook charging money to use it next month.
    Is this true?
    Why are they doing this?
    Why haven’t I gotten anything official from the Facebook people saying this?

  • Gage

    Two friends facebook profiles have been not showing up on facebook recently.I have noticed on past messages from these friends that their profile picture has also changed to a shadow.They are missing from all facebook searches and on mutual friends lists.Are their profiles “deactivated”? When a profile is deactivated does it mean its gone from facebook for good? Thanks in advance!

  • isk8at818

    For some odd reason I have advertisements (that aren’t supposed to be on facebook) on my facebook pages and on the facebook login page. They only seem to appear on one of the computers but not the other. I downloaded a setup thing to download shows on megaupload but then it appeared that nothing happened and it kept asking to download it. So I deleted what I download but the advertisements are still there. What do I do?

  • Le Pwner

    what do you like most about facebook and y do you go on it for?
    everyone goes on about it whats the big deal??

  • Hayden

    In the People you may know section on facebook they are suggesting friends that I’ve never met in person who live in other states and have no mutual friends. How would facebook know that I know them?

  • Xedo

    alright…so many of my friends have a facebook page and i’d like one too. my parents only talk negatively about MySpace, online chat rooms, etc. i don’t have a cell phone, which will be one of my points when trying to convince them to let me get one. what are some other points i can make to persuade my parents to let me get one?

  • whites are not the only racists

    How did Facebook use principles related to the definition of Organizational Development to grow and prosper as a company? How does the concept of Organizational development relate to Facebook?