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Facebook To Buy Instagram

by Jake on April 10, 2012

So news of a new acquisition hits the world as Facebook announces it is going to buy Instagram for $1bn (£629m) in a mix of cash and stocks.

Instagram is one of those online success stories that has seen massive growth since it’s launch in October 2010 when it was initially offered as only an iPhone app. Last week they announced a version for the ever growing Android market too.

The app is a free one and gives users the ability to take a photo and post it to their social media networks immediately. They have the option of 17 filters to apply to the photos they take allowing them to change the colour balance and add cool effects. It’s a cool app and I admit that it happens to be one of my favourites on my iPhone.

There are more than 30 million users of the app and they upload around 5 million photos per day.

Mark Zuckerberg of Facebook has pledged to continue developing Istagram allowing it to remain as a separate brand with the ability to post to multiple social media networks such as twitter.

The Facebook founder write on his fan page: “We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience.

“We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.”

“This is an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users. We don’t plan on doing many more of these, if any at all.”

This is a major acquisition which has moved ahead at a fast pace ahead of Facebook’s planned flotation on the stock markets later this year. The firm is expected to float in may or June of this year for around $100bn