Facebook Buys Instagram For $1 Billion
Today it was announced that Facebook has acquired Instagram, the popular and growing photo-sharing application/social network for about $1 billion dollars. It was only about a week ago that Android released Instagram which sparked 1 million new users in under 24 hours. Although this $1 billion purchase is a huge business move, it still seems that Instagram’s young company will remain independent as a photo-sharing service.
Text: Jude Liana