Facebook to Acquire Instagram for $1 Billion Dollars

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.

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einsteinbqat
einsteinbqat
14 years ago

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

Ryan Ahrens
14 years ago

…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
jamiesona
Reply to  Ryan Ahrens
14 years ago

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

Romanhidalgo
Romanhidalgo
Reply to  jamiesona
14 years ago

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

Greed
Greed
Reply to  Romanhidalgo
14 years ago

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

Vikram Kalsi
Vikram Kalsi
Reply to  Greed
14 years ago

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

Gary
Reply to  jamiesona
14 years ago

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

RaphaelNinjaTurtle
RaphaelNinjaTurtle
14 years ago

Instagram account deleted.

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