Does Facebook Own Instagram

Facebook snapped up the widely preferred photo-sharing application Instagram Monday, for approximately $1 billion in a combination of money and also supply.

Facebook Chief Executive Officer Mark Zuckerberg announced the acquisition in an article on his Facebook Timeline Monday.

The sale is expected to shut later on this quarter, and also will bring the nine-person staff of Instagram to the social media.

Does Facebook Own Instagram

" For several years, we've concentrated on constructing the best experience for sharing pictures with your family and friends," Zuckerberg claimed in the article. "Currently, we'll have the ability to work a lot more very closely with the Instagram team to likewise provide the most effective experiences for sharing stunning mobile images with individuals based on your passions."

Zuckerberg went on to claim that the business will be building on Instagram's toughness as well as attributes and expanding the app individually as opposed to "just trying to integrate every little thing into Facebook."

Facebook intends on maintaining features within the application that permit photos to be published on various other socials media, and also the capacity to have fans as well as adhere to individuals who are not necessarily your Facebook pals.

" We will attempt to learn from Instagram's experience to construct comparable features into our other items," Zuckerberg stated. "At the same time, we will certainly attempt to aid Instagram continue to grow by utilizing Facebook's strong design team and facilities."

Instagram CEO Kevin Systrom echoed Zuckerberg's statements on the Instagram firm blog adding "We're upset to be joining Facebook and are delighted to construct a much better Instagram for everybody."

Instagram introduced its iphone application in October 2010, and concerned Android for the very first time last week.
This is the first time Facebook has actually gotten a company or product with a lot of customers. "We do not plan on doing a lot more of these, if any type of in all." Zuckerberg claimed. "However providing the very best image sharing experience is one reason many people like Facebook and also we understood it would certainly deserve bringing these 2 companies with each other."

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