Instagram sold to Facebook for 1 billion

[cpvr]

Looks like Facebook is flexing their muscles - in terms of buying other products.

Facebook snapped up the hugely popular photo-sharing app Instagram Monday, for roughly $1 billion in a combination of cash and stock.

Facebook CEO Mark Zuckerberg announced the acquisition in a post on his Facebook Timeline Monday.

The sale is expected to close later this quarter, and will bring the nine-person staff of Instagram to the social network.

“For years, we’ve focused on building the best experience for sharing photos with your friends and family,” Zuckerberg said in the post. “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.”

Zuckerberg went on to say that the company will be building on Instagram’s strengths and features and growing the app independently rather than “just trying to integrate everything into Facebook.”

Source: http://mashable.com/2012/04/09/facebook-instagram-buy/

What does everyone think about this? Do you use Instagram to upload your pictures and such?

[Toxic Rainbow Kisses]

I have never used it or heard of it, but facebook has been buying out alot of people.

[tldr]

I hate Facebook, I can't wait for it to go the way of MySpace and Bebo. I can't believe they bought Instagram, which I'm sure will be shut down and "integrated" into FB soon...D:

[Poetically]

I'm really quite nervous as to what this means for Instagram. I use it, and I don't want it to be shut down. But, I suppose that's how it goes. Big companies overpower little companies and makes them obsolete. I just hope Zuckerberg knows just how much of a following Instagram has. He'd be smart to use it to his advantage, if he were to use it at all.

[Corleone]

I don't think they will shut it down, I guess they're just gonna integrate what it offers into Facebook itself, while leaving the actual Instagram out there too.

[cpvr]

I have never used it or heard of it, but facebook has been buying out alot of people.

That's because they're set to go public soon(IPO) http://mashable.com/follow/topics/facebook-ipo They have the money, so why not?

@tldr You may be right. And rumor has it that Twitter was trying to buy Instagram as well - but a while ago. But, its quite possible they could shut it down and bring the features on over to Facebook. I know the Instagram's team is now working under Facebook(I think? someone correct me if i'm wrong.) And there isn't any plans on the horizon[well, not now) to close down Instagram.

And comparing Myspace's downfall to Facebook is really crazy because Myspace had server problems - slow loading pages and things like that, Facebook came and made social networking even easier. Myspace had plenty of changes to recover and come-out with new stuff while Facebook was still on the rise, but they didn't, so they got left in the dust.

[tldr]

That's because they're set to go public soon(IPO) http://mashable.com/follow/topics/facebook-ipo They have the money, so why not?

@tldr You may be right. And rumor has it that Twitter was trying to buy Instagram as well - but a while ago. But, its quite possible they could shut it down and bring the features on over to Facebook. I know the Instagram's team is now working under Facebook(I think? someone correct me if i'm wrong.) And there isn't any plans on the horizon[well, not now) to close down Instagram.

And comparing Myspace's downfall to Facebook is really crazy because Myspace had server problems - slow loading pages and things like that, Facebook came and made social networking even easier. Myspace had plenty of changes to recover and come-out with new stuff while Facebook was still on the rise, but they didn't, so they got left in the dust.

I think Facebook is an easy way to network, but it's also a huge scam, I don't like the idea of my personal data being sold to scumbag corporations, and I also can't stand Mark Zuckerburg, he's lost all his appeal, he's just like any other billionaire willing to anything to make a dollar even at the cost of his own morality and conscious. He could care less about our privacy as long as FB makes money and once people catch on to that, FB is really quite doomed.

[cpvr]

I think Facebook is an easy way to network, but it's also a huge scam, I don't like the idea of my personal data being sold to scumbag corporations, and I also can't stand Mark Zuckerburg, he's lost all his appeal, he's just like any other billionaire willing to anything to make a dollar even at the cost of his own morality and conscious. He could care less about our privacy as long as FB makes money and once people catch on to that, FB is really quite doomed.

How is it a huge scam? What makes you say that? And also, since when have they been selling personal data to scumbag corporations? That's news to me, I'd love to hear more.

[cpvr]

Well, its now official. Instagram is now owned by Facebook. Instagram didn't get a 1 billion bucks though, they got like $700 million or more because Facebook's stock has been been going down.

Techcrunch has the run down here > http://techcrunch.com/2012/08/29/fac...-corporations/

As Brandon Bailey writes, because the stock from the then $1 billion deal is worth much less now (a little over $700 million), the state was focusing on whether the deal was fair to Instagram and its shareholders.

Good for Facebook, but is this good for Instagram? What does everything think?