Facebook is set to acquire Instagram for approximately $1 billion
posted by John V. / Apr 09, 2012, 12:46 PM
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!
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...
posted on Apr 09, 2012, 12:52 PM 8
Posts: 234; Member since: Feb 24, 2012
...and there goes instagram.
posted on Apr 09, 2012, 12:59 PM 1
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
posted on Apr 09, 2012, 1:05 PM 0
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!
posted on Apr 09, 2012, 1:26 PM 5
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.
posted on Apr 09, 2012, 1:56 PM 6
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.
posted on Apr 09, 2012, 2:02 PM 0
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...
posted on Apr 09, 2012, 2:07 PM 0
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...
posted on Apr 09, 2012, 2:12 PM 0
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.
posted on Apr 09, 2012, 4:21 PM 1
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