Did Facebook Buy Instagram

Facebook snapped up the hugely preferred photo-sharing application Instagram Monday, for roughly $1 billion in a combination of money as well as supply.

Facebook Chief Executive Officer Mark Zuckerberg introduced the purchase in a message on his Facebook Timeline Monday.

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

Did Facebook Buy Instagram

" For several years, we have actually focused on building the most effective experience for sharing images with your family and friends," Zuckerberg said in the blog post. "Currently, we'll have the ability to work even more closely with the Instagram team to additionally provide the very best experiences for sharing beautiful mobile photos with individuals based upon your rate of interests."

Zuckerberg took place to say that the firm will certainly be improving Instagram's toughness as well as features and expanding the application separately instead of "just trying to integrate whatever into Facebook."

Facebook plans on maintaining features within the application that permit images to be released on other social media networks, as well as the ability to have followers and also follow individuals that are not always your Facebook pals.

" We will certainly try to gain from Instagram's experience to develop similar attributes into our other items," Zuckerberg said. "At the same time, we will certainly attempt to help Instagram remain to expand by utilizing Facebook's strong engineering team and facilities."

Instagram Chief Executive Officer Kevin Systrom echoed Zuckerberg's declarations on the Instagram business blog including "We're upset to be signing up with Facebook as well as are delighted to develop a far better Instagram for everyone."

Instagram released its iOS application in October 2010, as well as involved Android for the first time recently.
This is the first time Facebook has actually acquired a company or product with so many customers. "We do not plan on doing many more of these, if any type of at all." Zuckerberg said. "But supplying the most effective photo sharing experience is one reason why so many people enjoy Facebook and we understood it would certainly deserve bringing these 2 companies with each other."

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