Does Facebook Own Instagram
Facebook got the hugely preferred photo-sharing app Instagram Monday, for roughly $1 billion in a mix of cash money as well as supply.
Facebook CEO Mark Zuckerberg announced the procurement in a message on his Facebook Timeline Monday.
The sale is expected to shut later this quarter, and will bring the nine-person staff of Instagram to the social network.
Does Facebook Own Instagram
" For several years, we've focused on building the most effective experience for sharing pictures with your loved ones," Zuckerberg stated in the message. "Now, we'll have the ability to work much more carefully with the Instagram group to additionally offer the most effective experiences for sharing attractive mobile images with individuals based on your rate of interests."
Zuckerberg took place to say that the firm will be improving Instagram's staminas as well as functions and growing the app independently instead of "simply trying to integrate whatever into Facebook."
Facebook intends on maintaining features within the application that enable pictures to be released on other social networks, and also the capacity to have followers as well as adhere to people that are not necessarily your Facebook friends.
" We will try to learn from Instagram's experience to develop similar features right into our various other items," Zuckerberg claimed. "At the same time, we will try to help Instagram continue to grow by utilizing Facebook's solid design group and framework."
Instagram Chief Executive Officer Kevin Systrom echoed Zuckerberg's declarations on the Instagram firm blog including "We're psyched to be joining Facebook and also are excited to build a much better Instagram for every person."
Instagram released its iphone application in October 2010, as well as involved Android for the very first time last week.
This is the very first time Facebook has obtained a company or product with a lot of users. "We do not plan on doing much more of these, if any type of whatsoever." Zuckerberg stated. "However giving the best photo sharing experience is one reason why a lot of individuals enjoy Facebook and also we understood it would certainly be worth bringing these 2 companies together."