Facebook will buy Instagram for a cool $1 billion

April 10th 2012, 16:52 by Christian
Posted in: Marketing

This is the probably the most interesting news of the week – Facebook CEO Mark Zuckerberg announced that his company plans to buy the photo-sharing app Instagram. Obviously, there are some standard regulatory approvals to be made, but other than that, the deal is already made.

Both Kevin Systrom (CEO of Instagram) and Zuckerberg confirmed this news on their personal blogs, while also assuring that this deal will not affect Instagram’s integration with competing social networks. According to them, Instagram will remain the same app that you know and love/hate.

As mentioned, the transaction is worth a staggering $1 billion in a combination of cash and shares on Facebook. This is a real milestone for the social network, since it’s the first time it acquired a product and company with so many users. The deal is expected to close later this week.

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