Instagram Owned by Facebook
Facebook purchased the extremely popular photo-sharing application Instagram Monday, for approximately $1 billion in a combination of cash money as well as stock.
Facebook Chief Executive Officer Mark Zuckerberg announced the acquisition in an article on his Facebook Timeline Monday.
The sale is anticipated to close later on this quarter, and also will bring the nine-person personnel of Instagram to the social network.
Instagram Owned By Facebook
" For many years, we have actually focused on building the most effective experience for sharing images with your loved ones," Zuckerberg claimed in the message. "Currently, we'll be able to work much more closely with the Instagram group to additionally use the very best experiences for sharing beautiful mobile images with individuals based on your rate of interests."
Zuckerberg took place to claim that the business will certainly be building on Instagram's toughness and also features and also expanding the app individually as opposed to "simply attempting to integrate everything into Facebook."
Facebook intends on keeping attributes within the app that allow images to be released on various other socials media, and the ability to have followers as well as comply with people that are not always your Facebook pals.
" We will try to gain from Instagram's experience to build similar attributes right into our various other items," Zuckerberg said. "At the same time, we will certainly attempt to help Instagram remain to grow by using Facebook's solid design group and also infrastructure."
Instagram Chief Executive Officer Kevin Systrom echoed Zuckerberg's statements on the Instagram firm blog adding "We're upset to be joining Facebook as well as are thrilled to construct a far better Instagram for everyone."
Instagram released its iOS app in October 2010, and also concerned Android for the first time last week.
This is the very first time Facebook has actually acquired a company or product with many users. "We don't plan on doing many more of these, if any kind of whatsoever." Zuckerberg claimed. "But supplying the very best photo sharing experience is one reason that many individuals love Facebook as well as we understood it would certainly deserve bringing these 2 business together."