Facebook acquires Instagram for $1 billion

Facebook logoFacebook announced on Monday that it has agreed to purchase Instagram, the maker of the popular photo sharing service for iPhone, for $1 billion.

Facebook will acquire the San Francisco-based company for a combination of cash and shares in Facebook totaling $1 billion. The transaction is expected to close this quarter.

In a statement, Facebook CEO Mark Zuckerberg said he is committed to building and growing Instagram independently, meaning it will not be tied into Facebook's existing social networking website.

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

Instagram has been one of the most popular applications for the iPhone, routinely appearing among the top downloaded applications for iOS. With the application, users can take a picture and apply a digital filter, then upload and share pictures on a variety of social networking services, including Instagram's own.

Instagram first launched in the iPhone App Store in October of 2010, and it eventually made its way to the Google Android platform just last week, achieving more than a million downloads via Google Play in less than 24 hours. Facebook's announcement that it will acquire Instagram comes just six days after the application became available for Android.

Apple itself highlighted Instagram in December with its own iTunes Rewind 2011 selections. Apple's editorial team selected Instagram as the iPhone application of the year for 2011.

Source: AppleInsider

Tags: Facebook, social networks

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Galaxy Note10 really is built around a 6.7-inch display
 
You may still be able to download your content
 
Facebook, Messenger and Instagram are all going away
 
Minimize apps to a floating, always-on-top bubble
 
Japan Display has been providing LCDs for the iPhone XR, the only LCD model in Apple’s 2018 line-up
 
The 2001 operating system has reached its lowest share level
 
The entire TSMC 5nm design infrastructure is available now from TSMC
 
The smartphone uses a Snapdragon 660 processor running Android 9 Pie
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 / 1
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
      1
2345678
9101112131415
16171819202122
23242526272829
30      




Poll

Do you use microSD card with your phone?
or leave your own version in comments (15)