Facebook Buys Instagram for $1 Billion!

Facebook Buys Instagram for $1 Billion!

Soon after launching the Android version of the ultra-popular social photo sharing site, Instagram has just sold to Facebook for a cool $1 billion! Here are some details from the New York Times:

Facebook has acquired Instagram, the popular photo-sharing application, for about $1 billion in cash and stock, the company said Monday. In a Facebook post, the company’s chief, Mark Zuckerberg, said he planned to build Instagram independently from the social network, allowing users to post on other social networks, follow users not on Facebook and opt out of sharing on Facebook.

And from Instagram the following statement:

When Mike and I started Instagram nearly two years ago, we set out to change and improve the way the world communicates and shares. We’ve had an amazing time watching Instagram grow into a vibrant community of people from all around the globe. Today, we couldn’t be happier to announce that Instagram has agreed to be acquired by Facebook.

The Instagram app will still be the same one you know and love. You’ll still have all the same people you follow and that follow you.You’ll still be able to share to other social networks. And you’ll still have all the other features that make the app so fun and unique.
We’re psyched to be joining Facebook and are excited to build a better Instagram for everyone.

What do you think about this? What do you think it will mean for Instagram or Facebook … or the apps on iOS and Android?

You can read more at the New York Times!

As an Amazon Associate, we earn from qualifying purchases. If you are shopping on Amazon anyway, buying from our links gives Gear Diary a small commission.

About the Author

Michael Anderson
I have loved technology for as long as I can remember - and have been a computer gamer since the PDP-10! Mobile Technology has played a major role in my life - I have used an electronic companion since the HP95LX more than 20 years ago, and have been a 'Laptop First' person since my Compaq LTE Lite 3/20 and Powerbook 170 back in 1991! As an avid gamer and gadget-junkie I was constantly asked for my opinions on new technology, which led to writing small blurbs ... and eventually becoming a reviewer many years ago. My family is my biggest priority in life, and they alternate between loving and tolerating my gaming and gadget hobbies ... but ultimately benefits from the addition of technology to our lives!

3 Comments on "Facebook Buys Instagram for $1 Billion!"

  1. Still trying to figure out why they’d want it other than it’s user base.  I tried Instagram and I don’t find it that special.  

  2. If this story came out last Sunday I would have wondered if it was an April Fool’s Day prank story. I cannot begin to understand how Instagram is worth $1 billion to anybody.

Comments are closed.