Facebook Acquires Instagram
Facebook bought the extremely popular photo-sharing application Instagram Monday, for about $1 billion in a mix of cash and also supply.
Facebook CEO Mark Zuckerberg introduced the acquisition in a blog post on his Facebook Timeline Monday.
The sale is expected to close later this quarter, as well as will certainly bring the nine-person staff of Instagram to the social media network.
Facebook Acquires Instagram
" For several years, we have actually concentrated on constructing the very best experience for sharing photos with your family and friends," Zuckerberg stated in the article. "Now, we'll be able to function even more closely with the Instagram team to additionally supply the very best experiences for sharing lovely mobile photos with people based on your passions."
Zuckerberg took place to claim that the company will be improving Instagram's strengths and also functions and also expanding the app separately as opposed to "simply trying to incorporate everything into Facebook."
Facebook intends on maintaining functions within the application that allow photos to be published on various other social media networks, and also the ability to have followers as well as adhere to people that are not necessarily your Facebook close friends.
" We will try to pick up from Instagram's experience to construct similar features right into our other products," Zuckerberg said. "At the same time, we will try to aid Instagram continue to expand by utilizing Facebook's strong engineering group and infrastructure."
Instagram CEO Kevin Systrom resembled Zuckerberg's statements on the Instagram business blog adding "We're upset to be joining Facebook and also are delighted to develop a much better Instagram for everyone."
Instagram launched its iOS application in October 2010, and pertained to Android for the first time last week.
This is the very first time Facebook has actually gotten a firm or product with so many customers. "We do not intend on doing a lot more of these, if any at all." Zuckerberg stated. "Yet offering the best picture sharing experience is one reason why numerous individuals love Facebook and we understood it would certainly deserve bringing these 2 business with each other."