How Much Did Facebook Buy Instagram for
Facebook bought the widely popular photo-sharing application Instagram Monday, for roughly $1 billion in a mix of money and also stock.
Facebook CEO Mark Zuckerberg announced the acquisition in an article on his Facebook Timeline Monday.
The sale is expected to shut later this quarter, and also will bring the nine-person staff of Instagram to the social network.
How Much Did Facebook Buy Instagram For
" For years, we've concentrated on building the very best experience for sharing images with your family and friends," Zuckerberg said in the message. "Now, we'll have the ability to work much more carefully with the Instagram team to also provide the very best experiences for sharing attractive mobile images with individuals based on your passions."
Zuckerberg went on to claim that the business will certainly be improving Instagram's strengths as well as features and growing the app separately as opposed to "just attempting to integrate everything into Facebook."
Facebook intends on maintaining features within the application that enable photos to be released on various other socials media, and also the capability to have fans and also comply with individuals that are not always your Facebook buddies.
" We will attempt to pick up from Instagram's experience to construct comparable features right into our other products," Zuckerberg said. "At the same time, we will certainly attempt to assist Instagram remain to expand by utilizing Facebook's solid design team and facilities."
Instagram CEO Kevin Systrom resembled Zuckerberg's statements on the Instagram firm blog including "We're psyched to be signing up with Facebook as well as are excited to construct a better Instagram for everyone."
Instagram launched its iphone application in October 2010, and pertained to Android for the first time last week.
This is the first time Facebook has actually gotten a company or product with many individuals. "We don't intend on doing a lot more of these, if any kind of whatsoever." Zuckerberg said. "But supplying the most effective image sharing experience is one reason why so many individuals like Facebook as well as we knew it would deserve bringing these two firms together."