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Instagram is Acquired by Facebook
Posted on April. 15, 2012 by Philip Betz - Internet Marketing Technician
The social networking world was all a-twitter last week as Facebook bought the popular photo-sharing site Instagram for $1 billion in cash and stock. The site allows users to upload photos they take on their smartphones (initially only the iPhone, but Android support has been added recently), apply filters to alter the look of each picture, and network with other people using the service.
Instagram has exploded in popularity since its initial release in late 2010, with more than 40 million people currently making use of the app and the social networking service on a regular basis. The recent launch of the app for Android phones netted the company another 1 million users within the first 12 hours of its existence on Google’s Play network.
The acquisition helps Facebook keep its prominence in the social photo sharing arena, though Instagram will not cease to operate as a brand or lose its independence. While Facebook has in the past bought out “hot” startup companies and apps, cancelled the products and placed their staff on different internal projects, Facebook founder Mark Zuckerberg said that they believe Instagram will work and grow better separately from the Facebook brand.
“We’re committed to building and growing Instagram independently,” he said. “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.”
Facebook’s purchase of the app and choice to allow it to operate independently will ensure that Instagram’s already-massive user base is able to continue sharing their photos with each other and not have to place their media on another platform. The app is available on smartphones and camera-equipped tablet computers for free, and users can sign up for its social networking service for no charge.
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