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Facebook Is Acquiring Instagram
Today, Facebook announced that they will be accruing Instagram. They have reached an agreement with them and the total transaction will cost them around $1 Billion. It will be closing later this quarter. Instagram is the popular photo-sharing application for your smart phone. It has a millions of users, who love and admire the app. And most of them post photos from it on a daily and even some hourly basis. They started just around 2 years ago, and now they are being bought out for a huge amount of money. This is just about every start up’s dream. On Mark Zuckerberg’s timeline he spoke about the acquisition and how Instagram will be jointing the Facebook family.y Facebook has been focused on sharing photos, and making the experience even better. Now, they will be able to work on sharing your photos on a mobile device with people of your interest. This means that they will be building and growing Instagram, independently from the whole Facebook operation. This means they will not try to make them super connected, which will make many people happy. Their end goal is to spread the app to more people and have more users loving it. This the first time Facebook has bought out another company with this many users, and it is a milestone for them. He ended by saying that he looks forward to the future of Facebook and Instagram. Overall, it will most likely make the application run better and will be the same with some new features. It is good to see that they are not going to integrate it more with Facebook. For more info check out the Press Release below.
Press Release
Facebook to Acquire Instagram
MENLO PARK, CALIF.-April 9, 2012-Facebook announced today that it has reached an agreement to acquire Instagram, a fun, popular photo-sharing app for mobile devices.
The total consideration for San Francisco-based Instagram is approximately $1 billion in a combination of cash and shares of Facebook. The transaction, which is subject to customary closing conditions, is expected to close later this quarter.
Mark Zuckerberg, founder and CEO of Facebook, posted about the transaction on his Timeline:
I’m excited to share the news that we’ve agreed to acquire Instagram and that their talented team will be joining Facebook.
For years, we’ve focused on building the best experience for sharing photos with your friends and family. Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.
We believe these are different experiences that complement each other. But in order to do this well, we need to be mindful about keeping and building on Instagram’s strengths and features rather than just trying to integrate everything into Facebook.
That’s why we’re committed to building and growing Instagram independently. Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people.
We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.
These and many other features are important parts of the Instagram experience and we understand that. We will try to learn from Instagram’s experience to build similar features into our other products. At the same time, we will try to help Instagram continue to grow by using Facebook’s strong engineering team and infrastructure.
This is an important milestone for Facebook because 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.
We’re looking forward to working with the Instagram team and to all of the great new experiences we’re going to be able to build together.
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