Does Facebook Own Instagram
Facebook purchased the extremely prominent photo-sharing application Instagram Monday, for about $1 billion in a mix of cash money as well as stock.
Facebook CEO Mark Zuckerberg announced the purchase in a blog post on his Facebook Timeline Monday.
The sale is anticipated to shut later on this quarter, as well as will bring the nine-person staff of Instagram to the social network.
Does Facebook Own Instagram
" For years, we have actually focused on developing the best experience for sharing photos with your family and friends," Zuckerberg claimed in the message. "Currently, we'll be able to function a lot more carefully with the Instagram group to also offer the very best experiences for sharing stunning mobile photos with individuals based upon your interests."
Zuckerberg went on to state that the company will certainly be improving Instagram's toughness as well as attributes and also expanding the app individually as opposed to "simply attempting to integrate every little thing right into Facebook."
Facebook plans on maintaining features within the app that permit images to be published on other social media networks, as well as the ability to have fans and also adhere to people who are not necessarily your Facebook good friends.
" We will certainly attempt to learn from Instagram's experience to construct comparable features right into our other items," Zuckerberg stated. "At the same time, we will attempt to aid Instagram continue to expand by using Facebook's solid engineering team and infrastructure."
Instagram CEO Kevin Systrom echoed Zuckerberg's statements on the Instagram firm blog site adding "We're psyched to be joining Facebook as well as are excited to construct a far better Instagram for everyone."
Instagram launched its iOS app in October 2010, and came to Android for the very first time recently.
This is the very first time Facebook has actually gotten a firm or product with many customers. "We do not intend on doing much more of these, if any kind of whatsoever." Zuckerberg said. "However giving the very best image sharing experience is one reason why so many individuals enjoy Facebook as well as we understood it would deserve bringing these two companies with each other."