Instagram Acquired by Facebook for $1 Billion
Last week we saw the popular photo-sharing app, Instagram release it’s Android version and today all of a sudden we see an acquisition. Yes you read it right, Facebook the social networking giant acquired Instagram for a whooping $1 Billion which includes hard cash and shares of Facebook.
Instagram on Monday, agreed to the acquisition terms and conditions mutually put forward by both the parties. The San Francisco based company currently has around 13 employees. Now with this acquisition Instagram has made it clear that the basic functionality, features of the app won’t be affected either on the Android or iOS platform.
In fact, both the companies have made it clear that social sharing won’t be tweaked in order to favor Facebook. Instagram will be working closely with Facebook to improve it’s photo sharing experience.
Instagram “Independently” acquired by Facebook
Facebook’s Newsroom blog says,
We believe these are different experiences that complement each other. But in order to do this well, we need to be mindful about keeping and building on Instagram’s strengths and features rather than just trying to integrate everything into Facebook. That’s why we’re committed to building and growing Instagram independently.
Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people.
We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.
Kevin Systrom, Instagram’s CEO & Co-Founder writes in the official blog post,
It’s important to be clear that Instagram is not going away. We’ll be working with Facebook to evolve Instagram and build the network. We’ll continue to add new features to the product and find new ways to create a better mobile photos experience.
I think you’ve got enough information about the Instagram acquisition. Now lets see what the Twitterverse had to say about this.
- Eldon ReTweets – rim shot. “@technosailor: Kinda like Techcrunch RT @eldon: so instagram to stay “independent”.
- Ajit Tweets - Two services I never use,Facebook and Instagram are together now. Piercentage of fuck given = 0.
- zerohedge ReTweets - NYT needs more color filters RT @dkberman: Remember this day. 551-day-old Instagram is worth $1BN. 116-year-old New York Times Co.: $967MM.
- iTannu ReTweets - And buy Air India ??? RT @madhuchhanda11: Vijay Mallaya needs to get in touch with Mark Zukerberg … !!!.
- Nicky Tweets - Looks like Facebook waited till Instagram was rolled out to android users too and then bought it.
So what is your personal view on this big acquisition ? Do you think this will change the way Instagram functions ?? Will you continue to use Instagram for Android or uninstall it from your device just because Facebook has acquired it ???