Is Instagram Owned by Facebook
Facebook got the widely popular photo-sharing application Instagram Monday, for approximately $1 billion in a mix of cash and also stock.
Facebook Chief Executive Officer Mark Zuckerberg revealed the acquisition in a blog post on his Facebook Timeline Monday.
The sale is expected to shut later this quarter, and also will certainly bring the nine-person personnel of Instagram to the social media network.
Is Instagram Owned By Facebook
" For many years, we've concentrated on building the most effective experience for sharing pictures with your friends and family," Zuckerberg stated in the blog post. "Now, we'll have the ability to function a lot more closely with the Instagram team to also offer the very best experiences for sharing beautiful mobile photos with individuals based on your rate of interests."
Zuckerberg went on to claim that the business will be improving Instagram's toughness and also attributes and also expanding the application individually rather than "just attempting to integrate everything right into Facebook."
Facebook intends on maintaining features within the application that permit images to be released on various other social media networks, and also the capacity to have fans and follow people that are not always your Facebook friends.
" We will certainly attempt to gain from Instagram's experience to develop comparable features right into our various other products," Zuckerberg claimed. "At the same time, we will certainly attempt to aid Instagram continue to grow by utilizing Facebook's strong design group and infrastructure."
Instagram Chief Executive Officer Kevin Systrom echoed Zuckerberg's statements on the Instagram business blog including "We're psyched to be signing up with Facebook and also are excited to develop a far better Instagram for every person."
Instagram introduced its iphone application in October 2010, and also involved Android for the first time recently.
This is the very first time Facebook has obtained a business or product with numerous users. "We do not intend on doing a lot more of these, if any in any way." Zuckerberg claimed. "But offering the most effective photo sharing experience is one reason a lot of people like Facebook as well as we understood it would be worth bringing these 2 firms with each other."