By April 9, 2012

Facebook acquires Instagram for $1 billion

DSC00878Instagram’s army of users aren’t the only ones who see value in the popular Instagram app for iOS and Android; Mark Zuckerberg has aptly taken to Facebook to announce Facebook’s purchase of the app. While there are only 6 employees, they’ll be transferring to Facebook for cash and shares in Facebook to the tune of a cool one billion US dollars.

For avid users of Instagram, there’s nothing to worry about just yet – Kevin Systrom, current CEO of Instagram, has said that Facebook will not be the only network to share your photos to. What is likely to happen is for Instagram to integrate to Facebook much more tightly, which sounds good for Facebook users. After hitting 30 million users, Instagram’s growth is only going to get bigger under Facebook’s wing, so whether you love or hate it, chances are you’ll be seeing more Instagrammed photos in your newsfeed.

 

Post by: Vince

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