Facebook to Acquire Instagram for $1 Billion
Facebook just announced that it will acquire photo-sharing site Instagram for $1 billion in cash and Facebook shares. In a statement on his Facebook Timeline, Mark Zuckerberg says that his company has always focused on the ability to share pictures with those closest to you.
“Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests,” he writes.
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