Facebook’s Buying Instagram for a Billion Dollars

Instagram is a mobile-only photo-sharing app. It grew from 1  million users in January 2011 to 15 million in December 2011. It has 30 million  users now.Kevin Systrom at Le Web

What’s great about it is that it is very fast – especially compared to  Facebook.

With the Facebook iPhone  app, there are 6 screens a user has to go through before a user can  actually take a picture. With Instagram, there is one.

In February, we  described Instagram as the biggest threat to Facebook.

Mark  Zuckerberg just announced the news on Facebook:

“I’m excited to share the news that we’ve  agreed to acquire Instagram and that their talented team will be joining  Facebook.
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.
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.
These and many other features are important parts  of the Instagram experience and we understand that. We will try to learn from  Instagram’s experience to build similar features into our other products. At the  same time, we will try to help Instagram continue to grow by using Facebook’s  strong engineering team and infrastructure.
This is an  important milestone for Facebook because it’s the first time we’ve ever acquired  a product and company with so many users. We don’t plan on doing many more of  these, if any at all. But providing the best photo sharing experience is one  reason why so many people love Facebook and we knew it would be worth bringing  these two companies together.
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.”

Read more: http://www.businessinsider.com/facebook-buys-instagram-2012-4#ixzz1rZhUhuoS

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