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BREAKING: Facebook Acquires Instagram For Around 1 Billion Dollars

Eric McBride
8

 

It's literally only been a few days since Instagram for Android first launched, and already it's in the news again. Now while I personally would never ever EVER use  Instagram (I still can't get over how DISGUSTED iPhone users were following the release of Instagram for Android), it was very interesting to see Facebook CEO Mark Zuckerberg's comment made on his Facebook wall just a few minutes ago, stating Facebook have just offically acquired Instagram for a pretty hefty chunk of change. Instabook? Facegram? How about Instaface? Ok I'll stop....But seriously, the acquisition of Instagram makes a lot of sense for Facebook, as it very nicely complements their existing business model. 

Surprising? No, not really. Instagram's social sharing features have been what has made the application so popular, and as Facebook also centers around sharing photos, it's actually a very logical purchase for Facebook. While we don't have an exact figure regarding purchase price, a press release stated that in the end it was sold for "around 1 BILLION dollars and shares in Facebook". In other words, JACKPOT for Kevin Systrom, CEO of Instagram :-D

Seeing as Instagram's business model is centered on photo sharing, I doubt much will change in terms of the functionality of the app itself. So to all you fans of Instagram, don't worry.  Congrats Instagram, you certainly have had a big week.

For anyone who wants to download Instagram for Android, it can be found here

 

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Comments

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  • vickiebrown Apr 9, 2012 Link

    if he made that much , hope he ttake part of it and dozes something with it . he could build houseing for steet kids . guess it would inter city job core .

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    Barry Fruitman Apr 9, 2012 Link

    Makes sense. Photo sharing is a big part of the Facebook experience and Instagram schooled them on how it's done. So, if you can't beat 'em, join 'em.

    As for the Android app, don't be hating just because a bunch of iPhone users had a hissy fit. The Android version is actually better than the iPhone version. I look forward to showing them how Instagram works on a REAL phone. :)

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  • Eric McBride Apr 9, 2012 Link

    @Vickie I agree..hopefully he does something helpful with some of that cash.
    @Barry, yeah the merge really makes sense. The opinions of iPhone users arent why I dont like instagram. I think its just a very overrated application. There are camera apps on the market that in my opinion do what instagram does but 10 times better.

    But yeah..show em how its done! :-D

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  • Thomas Martin Apr 10, 2012 Link

    In other words Instagram will NEVER be able to share photos to Google+ :(

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  • Eric McBride Apr 10, 2012 Link

    Seems so. But don't be surprised to see Google suddenly acquire a similair company soon.

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  • Cam charles Apr 10, 2012 Link

    thats an interesting point Thomas although im sure facebook are well aware that ubiquity is worth more then the "illusion" of supporting G+ i.e supporting it just bring more instagram users

    lol @ the internet going crazy with, down with instagram/facebook cries

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  • Cam charles Apr 10, 2012 Link

    actually
    @thomas: from zuckerburgs press release "Instagram will be built and grown "independently" and that its integration with other services is an "important part of the experience."" - to be believed or not is a good question of course but there you have it

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  • Thomas Martin Apr 10, 2012 Link

    @cam_charles.
    Yes i have seen the press release and hope they act and develop like an independent company in the future.

    @Eric McBride
    yes, but it would be nice to have an all in one application to share photos to the three mayor players :)

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