Instagram Has Been Acquired by Facebook For $1 Billion

Instagram –one among the most well liked image-based social networks at now in time – has been acquired by the world’s biggest social platform, Facebook which boasts in more than 800 million active users.Instagram has not even two years running, and recently has been an exclusive service for IOS on the iPhone including the latest updates which amended the user agreement.

Instagram CEO Kevin Systrom and Facebook leader Mark Zuckerberg released contemporaneous press statements, and whereas several of Intsagram’s thirty million + fans is also a bit apprehensive concerning the amalgamation, Systrom was fast to create the purpose that Instagram won’t amendment, however just enjoy the acquisition.

He said,

It’s important to be clear that Instagram is not going away. We’l (sic) be working with Facebook to evolve Instagram and build the network. We’ll continue to add new features to the product and find new ways to create a better mobile photos experience.

Meanwhile, Zuckerberg issued a press unleash reflective of Systrom’s, and spoke briefly of the direction he plans to require Instagram.

For those fearing Instagram disappearing in Facebook’s swirling vortex of disposable money and endless apps, Zuckerberg conjointly maintained that he and his team are dedicated to keeping Instagram freelance.He also promise that will not change anything or the application or service He is aware of how connected the tens of scores of users became, and assures that  it’ll not lose its identity:

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.

Of course, whereas the move can raise a couple of eyebrows, it shouldn’t come back as an excessive amount of of a surprise. Facebook has long since been the undisputed king of social image sharing, however Instagram has created unimaginable headway over the past year.

Facebook has spent a mighty-might staggering $1 Billion to  amass Instagram.I would say this can be a positive move.

Via: Redmondpie

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Posted by Paracha on April 9, 2012. Filed under News, Technology, Web. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry