Is Instagram Owned by Facebook
Facebook snapped up the widely prominent photo-sharing application Instagram Monday, for approximately $1 billion in a mix of cash and supply.
Facebook Chief Executive Officer Mark Zuckerberg announced the procurement in an article on his Facebook Timeline Monday.
The sale is anticipated to close later this quarter, as well as will certainly bring the nine-person team of Instagram to the social media network.
Is Instagram Owned By Facebook
" For many years, we've focused on constructing the most effective experience for sharing pictures with your loved ones," Zuckerberg stated in the article. "Currently, we'll be able to work a lot more very closely with the Instagram group to also supply the best experiences for sharing attractive mobile images with people based on your interests."
Zuckerberg took place to say that the company will certainly be improving Instagram's staminas and attributes as well as expanding the application independently as opposed to "simply attempting to integrate everything into Facebook."
Facebook plans on maintaining functions within the application that permit photos to be released on various other socials media, as well as the capacity to have fans and comply with individuals that are not always your Facebook good friends.
" We will certainly attempt to pick up from Instagram's experience to construct similar attributes right into our various other products," Zuckerberg stated. "At the same time, we will certainly attempt to help Instagram remain to expand by using Facebook's solid engineering team and also infrastructure."
Instagram Chief Executive Officer Kevin Systrom resembled Zuckerberg's declarations on the Instagram business blog site including "We're psyched to be joining Facebook as well as are delighted to develop a far better Instagram for everyone."
Instagram introduced its iphone application in October 2010, as well as concerned Android for the very first time recently.
This is the first time Facebook has gotten a company or product with numerous users. "We don't intend on doing a lot more of these, if any type of at all." Zuckerberg said. "But offering the very best picture sharing experience is one reason why so many individuals love Facebook and we knew it would certainly be worth bringing these two firms together."