Facebook to Buy Instagram for $1 Billion

On a night of slow news technology-wise, Facebook CEO Mark Zuckerberg posted on his Facebook Timeline no less, that the social-networking giant is buying Instagram. Instagram, the popular photo-sharing app with its own network of users will cost Facebook a massive $1 billion in cash as well as Facebook shares. Mark Zuckerberg was quick to acknowledge the other social networking sites that Instagram share too now and said that the deal would not affect it at all.

“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 this ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, you have the ability to have followers and follow people separately from your friends on Facebook,” Zuckerberg said. Awhile after that, Kevin Systrom also updated the Instagram blog with a post entitled Instagram + Facebook that explains everything on their side. What do you think about this acquisition? Let us know with a comment below.

Pradeep Chandrasekaran
Categories: Breaking, Photo-Video
Tags: Facebook, Instagram