Facebook is set to acquire Instagram for approximately $1 billion
Interestingly enough, Facebook of all companies dropped the bomb this afternoon stating that they would be acquiring Instagram. In fact, an agreement has been made by both parties where Facebook would acquire Instagram for approximately $1 billion, which is going to be broken down to a combination of cash and shares of Facebook. Although it’s not quite set in stone, the transaction is pending and is subject to the usual set of closing conditions – though, it’s believed for it to close sometime later this quarter.
Facebook poster child and CEO, Mark Zuckerburg, posted the wonderful news today on his timeline, and from the looks of it all, they’re excited about extending and integrating Instagram with Facebook. Luckily, it seems as though most of the Instagram features will remain – such as the ability to post to other social networking sides aside from Facebook. Additionally, Zuckerburg goes on to mention the following:
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.
So there you have it folks! Are you stoked about this?
Thanks to our tipster!
1. frydaexiii (Posts: 1133; Member since: 01 Dec 2011)
Can't tell if it's a good thing, or a disaster waiting to happen. One thing's for sure, the elitist iFans who were complaining about Instagram for Android would not be happy...
8. remixfa (Posts: 13885; Member since: 19 Dec 2008)
yea, what about those super poor people using old computers that dont even have smartphones OMG!! the horrors they will bring!!
22. daniel_bargs (Posts: 320; Member since: 27 Nov 2010)
iOS users got angry cause Android users gets their Instagram and now their Instagram was bought by facebook? this will be a DOUBLE iPad iSlap for them! haha
2. networkdood (Posts: 4749; Member since: 31 Mar 2010)
Never even heard of instagram....but, if it can improve the speed on how photos are uploaded to the account, then it should be good.
18. cheetah2k (Posts: 696; Member since: 16 Jan 2011)
Yep.. Facebook just proves the old saying "if you can't beat em, buy em..."
4. bossmt_2 (Posts: 401; Member since: 13 Oct 2009)
Instagram is now uncool I assume. I have to consult my hipster graph to figure out if facebook acquiring companies makes them cool or not.
5. nikhildangui (Posts: 5; Member since: 02 Apr 2012)
instagram will suck now onwards, and this FB Guys gonna make it an Crap app soon.. like SNAPTU which was an very good app before it was acquired by FB, and the officeal FB app for android is a crap too... slow.. n less usable then default mobile view of fb in browser
6. good2great (Posts: 953; Member since: 22 Feb 2012)
what the HECK are yall talkin about??!!! the creators of instagram just made $1billion... this is GREAT NEWS to Developers... man i'm in the wrong profession...lol
"networkdood" makes a good point..."Never even heard of instagram...."
instagram was designed from a few people that are "no named" and became billionaires in under 2 yrs... thats awesome!
7. networkdood (Posts: 4749; Member since: 31 Mar 2010)
Yeah, I agree, I only heard of it when coming onto P.A.
Dammn, I better start developing....
9. remixfa (Posts: 13885; Member since: 19 Dec 2008)
in other news..
HOLEY FRIKKIN WET METAL BATMAN!!
a BILLION DOLLARS for an app created by a couple of guys in their spare time?? GREAT JOB.
10. MobileCaseReview (Posts: 239; Member since: 10 Feb 2012)
Agreed remix! Kudos to those guys. Ironically enough, with FB going to have their IPO in about a month, I wonder how it will affect it. Very interesting stuff.
11. downphoenix (Posts: 1992; Member since: 19 Jun 2010)
I think this is a good thing. It will certainly help out Facebook with the filters technology and such for improving photos. However, it also multiplies the number of people uploading pictures with a bunch of old tyme photo filters by up to 10. So that is definitely a bad part of this.
12. Leo_MC (Posts: 371; Member since: 02 Dec 2011)
Useless "post on my wall that I farted" Facebook buys useless "take a picture of my dump, make a frame and post it" Instagram for a billion bucks?!
Loool, the world is getting more and more stupid!
Stupid not because the first buys the second but because someone like Fb get to have 1 billion bucks to spend...
13. good2great (Posts: 953; Member since: 22 Feb 2012)
i wonder how much it cost them to develop the app over 2yrs... or what all is considered when creating an app and marketing it.??
i'm so serious...lol
its a very beneficial gamble/risk
d@mn ONE BILLION DOLLARS!!!! and the app aint even that stellar for photo editing...haha WOW
any of you guys that have experience, resources, knowledge in developing an app... please lets sit and talk...lol we got $$$ to make...
14. KingKurogiii (Posts: 5430; Member since: 23 Oct 2011)
makes sense. ol' Mark knows when to whip out the checkbook. o:
16. jordan.300 (unregistered)
What.. I am to young to have a Facebook!
17. Jimstar (Posts: 259; Member since: 24 Oct 2011)
I would've thought Instagram was worth a little more than that.
I do think however, that I'm going to need to just stop going on facebook. After all my android friends got instagram I had to unsubscribe to about a dozen of them for putting up pictures of crap I dont care about, and now it's just gonna get easier for them to do so.
19. KingKurogiii (Posts: 5430; Member since: 23 Oct 2011)
so it became crap no one cared about when Android users started using Instagram? uhh huh, okay. xD
20. lilg29 (Posts: 62; Member since: 14 Sep 2011)
Here comes the changes to the already simple app...
21. InspectorGadget80 (Posts: 5178; Member since: 26 Mar 2011)
Why is this news?? I could care less bout Instagram.