Facebook Bought Instagram
Facebook snapped up the hugely popular photo-sharing app Instagram Monday, for about $1 billion in a combination of money as well as stock.
Facebook Chief Executive Officer Mark Zuckerberg introduced the acquisition in a message on his Facebook Timeline Monday.
The sale is expected to close later this quarter, and also will certainly bring the nine-person personnel of Instagram to the social network.
Facebook Bought Instagram
" For years, we've focused on building the very best experience for sharing pictures with your family and friends," Zuckerberg stated in the article. "Currently, we'll have the ability to function a lot more very closely with the Instagram group to also offer the very best experiences for sharing attractive mobile pictures with individuals based on your rate of interests."
Zuckerberg went on to state that the company will be improving Instagram's staminas and attributes and also growing the application separately instead of "simply trying to incorporate everything into Facebook."
Facebook intends on maintaining features within the app that permit pictures to be published on other social networks, as well as the ability to have followers and comply with people that are not necessarily your Facebook buddies.
" We will try to pick up from Instagram's experience to develop comparable attributes right into our other products," Zuckerberg stated. "At the same time, we will attempt to assist Instagram continue to expand by utilizing Facebook's solid engineering team and infrastructure."
Instagram CEO Kevin Systrom echoed Zuckerberg's statements on the Instagram company blog adding "We're psyched to be joining Facebook as well as are thrilled to construct a better Instagram for every person."
Instagram introduced its iOS application in October 2010, and pertained to Android for the first time recently.
This is the very first time Facebook has actually acquired a firm or item with so many customers. "We don't intend on doing much more of these, if any kind of in all." Zuckerberg said. "But giving the best picture sharing experience is one reason that many people enjoy Facebook and also we understood it would certainly deserve bringing these two companies with each other."