Facebook acquires Instagram for $1 billion

Social Networking giant Facebook just announced its acquisition of the hottest iOS photo-sharing app Instagram for a cool billion dollars in cash and stocks. Recently, Instagram became available to the Android users making the acquisition more lucrative for Facebook.

Here’s a screen capture of Facebook’s CEO Mark Zuckerburg’s announcement when he broke the news a few hours ago.


The app, including its team headed by CEO Kevin Systrom who was a graduate of Stanford University in 2006 with a BS in Management Science & Engineering, and Mike Krieger, a graduate from Stanford University where he studied Symbolic Systems with a focus in Human-Computer Interaction will be joining Zuck’s Facebook team.

The announcement made more than a hundred thousand Likes within four hours of posting in Zuck’s Timeline which is a testament on how popular and well-loved Instagram is. Now let’s wait and see what Facebook is going to do with their new toy.

[Zuck’s announcement on his FB]
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  • metal1369

    you can automatically blur your images when uploading in Facebook? no need to install into your phone or tablet.

    • http://calvinshub.com Calvin

      incorporate built-in photo editing/filters in FB? Hmmm…

  • Griswold

    now that would be nice. if there’s an instagram like app on Facebook that you can use via web browser.

  • https://twitter.com/#!/freakepisode Arroganto

    It’s like Facebook is taking over everything!
    I really hoped Instagram would decline that offer, they were already doing so good by themselves. They were able to put it on Androids and iOS.
    I really don’t know why they sold it to Facebook though.
    Anyway, editing pictures on Facebook? Ew. loljk

  • http://friendly.ph/ Friendly

    Nice sana gumawa rin ang Facebook ng sarili nilang Search Engine at Ads Network. sila lang nag papayaman ehh. They shoul give back to its avid users. :)