Facebook buys Instagram photo sharing network for $1bn

posted by outlawq8 comment: 0

That i didn’t see coming -_- and it means i will stop using Instagram cause Facebook has bad privacy which i don’t agree with it although last week they’ve announced a great news about it being working on Android system.

Facebook is paying $1bn (£629m) in cash and stock for the takeover.

Instagram was only launched in October 2010 – initially just for the iPhone before being offered as an Android app last week.

Facebook’s chief executive Mark Zuckerberg has pledged to continue to develop Instagram as a separate brand, allowing it to post to rival networks.

The app is free and allows users to apply 17 filters to the pictures they take – changing the colour balance to give the images a different feel – before they are uploaded.

It has proven hugely popular. The firm says that it has more than 30 million users uploading more than 5 million new pictures every day.


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