Share:

Facebook to Acquire Instagram for $1 Billion Dollars

Share:

Some huge news has hit the web today–Facebook has agreed to purchase popular iOS photo sharing app Instagram for $1 billion dollars. The news was announced on Instagram’s blog and by Facebook CEO Mark Zuckerberg himself.

From Instagram:

When Mike and I started Instagram nearly two years ago, we set out to change and improve the way the world communicates and shares. We’ve had an amazing time watching Instagram grow into a vibrant community of people from all around the globe. Today, we couldn’t be happier to announce that Instagram has agreed to be acquired by Facebook.

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.

AllThingsD is reporting the sale amount is $1 billion in cash and shares as noted in Facebook’s press release. Damn, well done Instagram.

Share:

  • einsteinbqat

    Gosh this must be one of the worst late April Fool ever, or a really bad dream!

  • …And thus marks the end of Instagram. Shame on the Instagram team for
    selling out and giving all it’s users the proverbial middle finger.

  • jamiesona

    I think you’d sell out for a billion dollars as well.

  • Romanhidalgo

    Agreed … I would for a billion…Hopefully they don’t f it up

  • $1 billion in less than 2 years is amazing. I don’t know who wouldn’t sell. Good for Instagram.

  • Greed

    only your private info will be shared. dont worry the app will work BeTtttter than ever

  • RaphaelNinjaTurtle

    Instagram account deleted.

  • Vikram Kalsi

    I have nothing to hide but if you do just don’t use the service.

Deals