Facebook bought the more-than-a-year old photo-sharing app, Instagram, for a whopping $1 Billion in cash and stocks. Thus, Instagram...
Facebook bought the more-than-a-year old photo-sharing app, Instagram, for a whopping $1 Billion in cash and stocks. Thus, Instagram team headed by CEO Kevin Systrom and his 12 employees will be joining the giant team of Mark Zuckerberg in Facebook.
Zuckerberg announced in his Facebook page on Tuesday morning the acquisition of the originally iOS-based app. He also pointed out the deal will not entirely integrate Facebook and Instagram.
“For years, we’ve focused on building the best experience for sharing photos with your friends and family. Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.”
Instagram was released in Android platform last week and had successfully tallied 5 million downloads in Google Play, and that is on top of its previously 30 million iOS-base users.