Printed from http://www.electronista.com

Facebook buys Instagram for $1 billion

updated 01:15 pm EDT, Mon April 9, 2012

Facebook gets Instagram for key deal

Facebook chief Mark Zuckerberg, in a surprise move, stated Monday that his company had bought Instagram. The effort was meant to drive improved photo sharing beyond what Facebook does today. Unlike the acquisitions of services like Beluga, however, he stressed that Instagram wouldn't be directly absorbed into Facebook's platform. That separation was valuable, he said.

"We're committed to building and growing Instagram independently," Zuckerberg said. "Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people."

Instagram would still share content out to non-Facebook sites, and it would still be possible to add and share with friends who aren't connected to it, he said.

The deal is believed worth $1 billion, which is one of the biggest deals ever relative to the number of employees. Instagram has typically had less than a dozen employees.

Zuckerberg added that the buyout was a very rare deal for the sheer size of the user base, with over 30 million users even before Instagram's Android version appeared. He even suggested this may be one of the last of its kind for Facebook. "We don't plan on doing many more of these, if any at all," he said.

- Jon Fingas



By Electronista Staff
toggle

Comments

  1. benjitek

    Fresh-Faced Recruit

    Joined: Oct 2011

    +1

    comment title

    Pinstagram... ;-)

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Patriot Supersonic Rage XT 128GB USB drive

USB memory sticks are getting larger by the day, their growth speeding along with the availability and expansion of memory chips. But ...

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Sponsor

toggle

Most Commented

 
toggle

Popular News