Did Facebook Buy Instagram
Facebook grabbed the widely popular photo-sharing application Instagram Monday, for approximately $1 billion in a combination of cash and also stock.
Facebook CEO Mark Zuckerberg revealed the purchase in a post on his Facebook Timeline Monday.
The sale is expected to close later on this quarter, and also will certainly bring the nine-person personnel of Instagram to the social network.
Did Facebook Buy Instagram
" For several years, we have actually focused on building the very best experience for sharing pictures with your friends and family," Zuckerberg said in the message. "Currently, we'll have the ability to function even more very closely with the Instagram team to also supply the very best experiences for sharing lovely mobile images with people based upon your passions."
Zuckerberg took place to claim that the company will certainly be improving Instagram's toughness as well as features and expanding the application separately instead of "just attempting to incorporate everything into Facebook."
Facebook intends on maintaining features within the application that permit images to be published on other social media networks, and also the ability to have followers and also comply with individuals that are not always your Facebook pals.
" We will try to learn from Instagram's experience to build comparable features into our various other items," Zuckerberg said. "At the same time, we will try to aid Instagram continue to expand by using Facebook's strong design group and infrastructure."
Instagram CEO Kevin Systrom resembled Zuckerberg's declarations on the Instagram firm blog adding "We're upset to be joining Facebook and also are thrilled to build a much better Instagram for everyone."
Instagram launched its iphone application in October 2010, and also involved Android for the first time recently.
This is the very first time Facebook has obtained a company or item with a lot of individuals. "We do not plan on doing many more of these, if any kind of in all." Zuckerberg claimed. "However giving the best image sharing experience is one reason many individuals like Facebook and also we understood it would be worth bringing these 2 business with each other."