Facebook Buys Instagram

April 10, 2012 | Zoltan Arva-Toth | Global , Software | Comment |

Facebook has agreed to acquire Instagram for nearly one billion US dollars in cash and stock. On his own Timeline, Facebook CEO and founder Mark Zuckerberg wrote that “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”. Instagram has attracted approximately 27 million users in just 1.5 years, on the iOS platform alone, before launching an Android app a week ago.

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