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Monday, April 9, 2012

Facebook buying Instagram for $1 billion in cash and stock


From the Los Angeles Times | April 9, 2012 | 10:52 a.m.(click here)

Facebook has agreed to buy the hugely popular photo-sharing company Instagram for $1 billion in cash and stock.

Mark Zuckerberg, Facebook's chief executive and founder, made the announcement on Facebook in a post that has already generated tens of thousands of likes. He pledged to allow Instagram to remain independent, and hinted that the acquisition might be the last of its size and scope for Facebook.

"It's the first time we've ever acquired a product and company with so many users. We don't plan on doing many more of these, if any at all. But providing the best photo-sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together," Zuckerberg said.

More at http://lat.ms/IrIxoH.

8 comments:

Anonymous said...

I have always seen instagram hotos, but I never knew what it was. Although I have a facebook I am also not on it 24/7 like some of my friends are...


COM 101-4080

Anonymous said...

I am pretty sure this event will encourage more people to create apps in hopes to be the next instagram.

Stephanie Cardiel Com 4044

Anonymous said...

Montoya@ Phoenix

Instagram is alot like facebook, i beleive with the buying of instagram was smart of facebook to do, because there is alot of people now using it more then facebook when it comes to picture taking and sharing. So i think i should jus use my instgram more now.

Anonymous said...

Madison harper com 101 4044
I hope this doesn't happen. Instagram is one of my favorite apps and I like to think it makes me kind of artsy the way I take pics and filter them. If the two combine its just going to make it common and anybody with a camera phone is going to think they are a photographer.

Anonymous said...

Instagram had thirteen employees at the time of it;'s aquisition. 1 billion divided by thirteen.......sounds like a sweet deal to me.

John Williams
COM 101 Sec 4049

Anonymous said...

Upon reading this story and hearing it over and over on the news and radio today, the intro with every form of media was that Instagram is worth more than the New York Times. My first thought is it is worth more to Mark Zuckerberg than the New York Times, but that is because "worth" is relative. An 1873 Monet canvas at auction has gone for $41.4 million. To me, a Monet is worth more than Instagram even though it sold for less and maybe to a refugee on a lifeboat at sea for weeks without food or water, a slice of bread and a glass of water might be worth more than Instagram and a Monet put together.

Martina - Phoenix HUM/114

Phoenix carmen said...

This was a very smart move by Facebook. Instagram has become very popular and people perferred it.

Christina Ortega COM101-4049 said...

SO maybe im just a little slow in the rise of technology... i mean i have a Facebook but i actually just learned about instagram yesterday from a co-worker. and still don't really get it LOL but from the brief description from this post it does seem to make sense and before long im sure there will be billions of people using it- if theres not already!