Facebook is buying Instagram for $1 billion

Facebook acquired the popular photo sharing app Instagram today for a price of $1 billion. Photo credit: CBS news.com

1 billion dollars – that’s how much Facebook announced today that it’s going to shell out to buy Instagram, the free photo sharing application for mobile devices.

If you’re not familiar, Instagram is a really cool program that allows users to create some awesome looking photos without much effort.

You just launch the app, take a photo, and apply one of the frames/filters to the photo – that’s it. I’ve seen some really great looking photos on Instagram.

Here’s an example of what a photo looks like after applying one of the filters using Instagram:

A photo I took using Instagram of my family's cat, preacher.

Another thing that makes Facebook’s acquisition very interesting is that Instagram recently launched on the Android platform – it was previously only available to Apple device owners.

Instagram has been seeing huge growth lately, gaining around 30 million users this year alone, especially since they launched the Android variant of their app.

According to Mark Zuckerberg, CEO of Facebook, all 13 employees at Instagram will be joining Facebook, but Instagram will continue to be an independent entity. That puts the employees’ individual value at about $77 million per person, in case you were wondering.

Zuckerberg also mentioned that a much easier way to share photos with Facebook from within Instagram is in the works for the future.

What are your thoughts about Facebook buying Instagram? Will they make it better?

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2 thoughts on “Facebook is buying Instagram for $1 billion

  1. Reblogged this on pfernandezphoto and commented:
    I don’t know if its the best idea…. for FB sure it is…..

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