Facebook Buys Instagram For $1 Billion

instagram
In a blog post earlier today Facebook’s founder and CEO Mark Zuckerberg announced that Facebook had purchased the popular photo sharing application Instagram for $1 Billion:

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.

Instagram was first launched on the iPhone platform around a couple of years ago and was named the iPhone App of the Year for 2011, being the 19th most downloaded free iPhone app of all time, Instragram has been a huge success which as just got even bigger with its luanch onto the Andriod platform a week ago.

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