Facebook buys Instagram for $1 Billion

Facebook buys Instagram for $1 Billion

Facebook buys Instagram for $1 Billion

Now we’ve some got some big news as Facebook acquires the famous mobile photo sharing platform Instagram for $1 Billion. The buzz was shared via Facebook Founder and CEO ‘Mark Zuckerberg’ on Monday by a post on his timeline. The company acquisition comprises of a mix of cash and Facebook Shares. It is one of the biggest achievements at Facebook’s end, as Instagram holds a strong threshold for both Apple iOS devices and the Android platform, with millions of users already a part of it.

“For years, we’ve focused on building the best experience for sharing photos with your friends and family. 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.” – Mark Zuckerberg (Founder and CEO, Facebook)

Zuckerberg expressed his views on evolving Instagram as an individual application rather than integrating everything to Facebook. “These and many other features are important parts of the Instagram experience and we understand that. We will try to learn from Instagram’s experience to build similar features into our other products. At the same time, we will try to help Instagram continue to grow by using Facebook’s strong engineering team and infrastructure.”

The existing set of features to the app that include photo sharing on multiple social networks and the ability to build following while being able follow others would still be in place. It would not be constrained or restricted only towards a ‘Facebook Only Platform’.

The team at Facebook and Instagram would be working together to provide rich experience to its existing set of users, while building Instagram alike features for Facebook services and projects.  Lets hope for the best and see what happens.

What are your views on this new acquisition? Please share your views by dropping by a comment.

via Facebook