Is Instagram Owned by Facebook

Facebook got the hugely popular photo-sharing application Instagram Monday, for about $1 billion in a combination of money and supply.

Facebook Chief Executive Officer Mark Zuckerberg introduced the acquisition in a post on his Facebook Timeline Monday.

The sale is anticipated to shut later on this quarter, and will bring the nine-person personnel of Instagram to the social network.

Is Instagram Owned by Facebook

" For many years, we've concentrated on building the most effective experience for sharing images with your friends and family," Zuckerberg claimed in the message. "Currently, we'll have the ability to work even more closely with the Instagram group to also offer the very best experiences for sharing attractive mobile pictures with individuals based on your passions."

Zuckerberg went on to state that the firm will certainly be building on Instagram's strengths as well as attributes and growing the app individually rather than "just trying to integrate everything into Facebook."

Facebook intends on keeping features within the application that allow photos to be published on other socials media, and also the capability to have followers and comply with individuals that are not always your Facebook pals.

" We will certainly try to pick up from Instagram's experience to build comparable attributes into our various other items," Zuckerberg stated. "At the same time, we will attempt to assist Instagram remain to grow by utilizing Facebook's solid design group as well as infrastructure."

Instagram Chief Executive Officer Kevin Systrom resembled Zuckerberg's statements on the Instagram business blog site including "We're psyched to be signing up with Facebook and also are excited to build a much better Instagram for everybody."

Instagram released its iphone application in October 2010, and involved Android for the very first time recently.
This is the very first time Facebook has actually obtained a business or item with numerous customers. "We do not intend on doing many more of these, if any kind of whatsoever." Zuckerberg claimed. "But offering the very best image sharing experience is one reason that so many people like Facebook and we understood it would certainly be worth bringing these two firms together."

Tweet