Facebook is set to acquire Instagram for approximately $1 billion

Facebook is set to acquire Instagram for approximately $1 billion
Wow! Instagram has been making a ton of noise of late, especially after officially releasing an app for Google’s Android platform.  Not only did we see over 1 million downloads for the app in a single day, but it seemingly fueled a war between iOS and Android as well. Nevertheless, another new day brings a new round of delicious news surrounding the popular photo-sharing service, as something seriously exploded today out of the blue.

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:



So there you have it folks! Are you stoked about this?

Thanks to our tipster!

source: Facebook

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21 Comments

1. frydaexiii

Posts: 1476; Member since: Dec 01, 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: 14605; Member since: Dec 19, 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: 325; Member since: Nov 27, 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: 6330; Member since: Mar 31, 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.

3. dcgore

Posts: 234; Member since: Feb 24, 2012

...and there goes instagram.

18. cheetah2k

Posts: 2156; Member since: Jan 16, 2011

Yep.. Facebook just proves the old saying "if you can't beat em, buy em..."

4. bossmt_2

Posts: 459; Member since: Oct 13, 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: Apr 02, 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: 1042; Member since: Feb 22, 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: 6330; Member since: Mar 31, 2010

Yeah, I agree, I only heard of it when coming onto P.A. Dammn, I better start developing....

9. remixfa

Posts: 14605; Member since: Dec 19, 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: 242; Member since: Feb 10, 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: 3165; Member since: Jun 19, 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: 6388; Member since: Dec 02, 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: 1042; Member since: Feb 22, 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: 5713; Member since: Oct 23, 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: Oct 24, 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: 5713; Member since: Oct 23, 2011

so it became crap no one cared about when Android users started using Instagram? uhh huh, okay. xD

20. lilg29

Posts: 89; Member since: Sep 14, 2011

Here comes the changes to the already simple app...

21. InspectorGadget80 unregistered

Why is this news?? I could care less bout Instagram.

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