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Monday 22nd September 2014,
Noble Press

Facebook to Buy Instagram for $1 Billion

Chris Collazo April 10, 2012 Facebook No Comments

Straight from Mark “I’m CEO Bitch!” Zuckerburg the announcement came of Facebook’s intent to purchase The Hipster infested app that is Instagram. The purchase will be a combination of cash and Facebook shares. The 13 people behind Instagram will be joining the Facebook team to further the already successful application. Zuckerburg assures that the app will be handled “independently”. It will be interesting to see the integration we will get with Facebook when the app is updated in the future. This is a smart move on Facebook’s part in my eyes, yet adding to the list of reasons why Facebook is here to stay. Zuckerburg was quoted saying

“This is an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users. We don’t plan on doing many more of these, if any at all.”

 

Congrats to everyone at Instagram I’m sure this means lots of opportunities in the future for not just the app but the team behind Instagram.

 

 

Source: The Verge

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