Monday, 9 April 2012

Facebook buys Instagram photo sharing network for $1bn

Instagram is great, as its kinda like twitter but with photos and is also very addictive. This is huge for Instagram, who only employ a handful of people. If you have a smart phone and dont have Instagram, go download that now. Follow me on instagram - therealdjmk

Facebook has announced it is to buy Instagram - the popular photo-sharing smartphone app.
Facebook is paying $1bn (£629m) in cash and stock for the takeover.
Instagram was only launched in October 2010 - initially just for the iPhone before being offered as an Android app last week.
Facebook's chief executive Mark Zuckerberg has pledged to continue to develop Instagram as a separate brand, allowing it to post to rival networks.
The app is free and allows users to apply 17 filters to the pictures they take - changing the colour balance to give the images a different feel - before they are uploaded.
It has proven hugely popular. The firm says that it has more than 30 million users uploading more than 5 million new pictures every day.
The company has "roughly" 10 employees, according to the Associated Press.
'Important milestone'
"We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience," Mr Zuckerberg wrote on his Facebook page.


No comments: