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Facebook Acquires Instagram…For $1 Billion Dollars!!!

Just when it was safe to LOVE  a new social media platform, it gets gobbled up by Facebook!  Today, the CEO of Instagram announced that the company has been bought and acquired by the social media icon Facebook.  Just last week a new Instagram application was made available for Android users and along with iOS users – the Instagram community has grown by leaps and bounds. It isn’t confirmed whether or not immediate changes will take place to the photo sharing network.  However, the following was shared by Instagram:

When Mike and I started Instagram nearly two years ago, we set out to change and improve the way the world communicates and shares. We’ve had an amazing time watching Instagram grow into a vibrant community of people from all around the globe. Today, we couldn’t be happier to announce that Instagram has agreed to be acquired by Facebook.  
Every day that passes, we see more experiences being shared through Instagram in ways that we never thought possible. It’s because of our dedicated and talented team that we’ve gotten this far, and with the support and cross-pollination of ideas and talent at a place like Facebook, we hope to create an even more exciting future for Instagram and Facebook alike.
It’s important to be clear that Instagram is not going away. We’ll be working with Facebook to evolve Instagram and build the network. We’ll continue to add new features to the product and find new ways to create a better mobile photos experience.
The Instagram app will still be the same one you know and love. You’ll still have all the same people you follow and that follow you.You’ll still be able to share to other social networks. And you’ll still have all the other features that make the app so fun and unique.  
We’re psyched to be joining Facebook and are excited to build a better Instagram for everyone.
Best,
Kevin
CEO, Instagram

 

It’s Facebook’s biggest acquisition ever, in both price and reach. With around 30 million active users, Instagram has the largest audience of any startup Facebook has purchased, Facebook CEO Mark Zuckerberg said in a blog post.  “We don’t plan on doing many more of these, if any at all,” Zuckerberg wrote. “But providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.”

 

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