Facebook founder Mark Zuckerberg has announced that Facebook is officially buying instagram in cash and stock.
Exactly how much is this popular photo sharing app going to cost? Oh just a little pocket change… 1 billion dollars!!! Zuckerberg announced this on his Facebook page Monday.
He said,”For years, we’ve focused on building the best experience for sharing photos with your friends and family. 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,” Mark Zuckerberg wrote. “We believe these are different experiences that complement each other. But in order to do this well, we need to be mindful about keeping and building on Instagram’s strengths and features rather than just trying to integrate everything into Facebook. That’s why we’re committed to building and growing Instagram independently. 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.”
He also said that this may be the first and last company they purchase of this category and that has so many users. Will this be a good or bad thing? Let’s wait and see!