Facebook Buys Instagram

Mark Zuckerberg:

I’m excited to share the news that we’ve agreed to acquire Instagram and that their talented team will be joining Facebook.

Company announcement says the deal was “approximately $1 billion in a combination of cash and shares of Facebook”. Zuckerberg says they’re going to keep Instagram independent:

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.

Update: Blog post from Instagram.

★ Monday, 9 April 2012