New Photo sharing Apps, Instagram Purchase by Facebook for $1bn

Posted by Sanket Patel

April 10, 2012

Social Media 9 min read

One of the popular photo-sharing apps, Instagram is purchased by Facebook, for a billion-dollar in a combination of cash and stock on 10th April, 2012. This acquisition is announced by Facebook CEO Mark Zuckerberg in a post on his Facebook Timeline Monday. It is one of the largest acquisitions in terms of price as well as reach. Previously, Instagram was first introduced in October 2010 for iPhone before being offered as an Android app.

Talking about Instagram, it is free photo sharing application, which is well-popular in variety of other social networking services such as Facebook, Twitter, Foursquare, Tumblr, Flickr, and Posterous. This application is helpful for taking photos, applying a filter, and sharing it on social networking sites. Instagram is supportable with iPhone, iPad or iPod Touch that runs above iOS 3.1.2 or Android device that runs above Android 2.2.

Instagram is considered as one of the largest audiences of any startup Facebook has acquisitioned as it has about 30 million active users, posted by Facebook CEO Mark Zuckerberg.

“For years, we’ve focused on building the best experience for sharing photos with your friends and family,” Zuckerberg said in the post. “Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.”

Zuckerberg also disclosed that company will try to enhance strengths and features of Instagram and growing the app more powerful rather than “just trying to integrate everything into Facebook.”

Furthermore, facebook also makes planning to enhance this app and include feature that photos to be published on other social networks. With this feature, you can share your photos with other people, who are not your Facebook friends.

“We will try to learn from Instagram’s experience to build similar features into our other products,” Zuckerberg said. “At the same time, we will try to help Instagram continue to grow by using Facebook’s strong engineering team and infrastructure.”

Instagram CEO Kevin Systrom answered Zuckerberg’s statements on the Instagram company blog adding “We’re psyched to be joining Facebook and are excited to build a better Instagram for everyone.”

Zuckerberg also said this is his first time, when a company or product has been acquired by Facebook. He also added, “We don’t plan on doing many more of these, if any at all.” “But providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.”


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