Facebook acquiring Instagram for $1 billion

InstagramJust a day before yesterday there was big bang in social networking world as Facebook bought Instagram for whooping $1 billion !. Instagram app allows its users to share photos with cool effects and then follow each other. It was launched last year for iPhone and became a phenomenon after that. iPhone users started joining it and started following each other just like Facebook pages. This 13 employee company also recently launched the app for Android which increased its user base in millions. Mark knew in his mind that its going to be the next big thing on internet, but then Facebook realized about the competition and acquired it before any other internet giant like Google.

Mark Zuckerberg said:

We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.”

So lets see how facebook will evolve after this $1 billion deal…

1 comment:

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