Facebook is Acquiring Instagram at 1 Billion USD
Facebook CEO Mark Zuckerberg announced on facebook that his company is acquiring iPhone and Android popular photo sharing startup Instagram.
Mark did not say how much was the price, Update: the price is $1 billion in a combination of cash and shares of Facebook according to facebook announcement. but he said unlike other facebook acquisitions instagram will keep growing independently. And that it wont milt inside facebook.
“We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.”