Facebook Acquires Instagram

Facebook Buy Instagram

Facebook purchased the widely popular photo-sharing application Instagram Monday, for roughly $1 billion in a combination of money as well as stock.

Facebook Chief Executive Officer Mark Zuckerberg revealed the procurement in a blog post on his Facebook Timeline Monday.

The sale is expected to close later on this quarter, as well as will certainly bring the nine-person team of Instagram to the social media.

Facebook Acquires Instagram

" For many years, we've concentrated on constructing the most effective experience for sharing images with your family and friends," Zuckerberg claimed in the blog post. "Now, we'll have the ability to work a lot more closely with the Instagram team to also provide the very best experiences for sharing lovely mobile images with individuals based upon your rate of interests."

Zuckerberg went on to state that the company will certainly be building on Instagram's toughness and features as well as growing the app individually as opposed to "just trying to incorporate every little thing into Facebook."

Facebook plans on keeping features within the application that allow images to be released on various other socials media, and the ability to have followers and adhere to people who are not necessarily your Facebook close friends.

" We will try to pick up from Instagram's experience to construct similar attributes into our various other products," Zuckerberg claimed. "At the same time, we will attempt to help Instagram remain to grow by using Facebook's strong engineering team as well as infrastructure."

Instagram Chief Executive Officer Kevin Systrom echoed Zuckerberg's declarations on the Instagram business blog site adding "We're psyched to be signing up with Facebook as well as are excited to develop a better Instagram for everybody."

Instagram released its iphone application in October 2010, and also pertained to Android for the first time recently.
This is the first time Facebook has gotten a business or product with numerous individuals. "We don't intend on doing many more of these, if any kind of at all." Zuckerberg stated. "However providing the best picture sharing experience is one reason why a lot of people love Facebook and we knew it would be worth bringing these two firms together."