Instagram Gets Facebooked. For a Billion Dollars

Instagram got Facebooked

Just before I could turn off my PC, this news broke. Facebook has acquired Instagram.

BIG news? Probably. Probably not. I’ve never used it, not just because it wasn’t available for non-iOS device until a couple of days back or so, but because I find these filter-photos-then-share apps pretty dumb. Dumb as in, they do not serve me any purpose, nor do I like what most of these apps do to my photos.

Well anyway, for those who may like the app, Facebook’s Mark Zuckerberg announced on, well, Facebook, that they’ve ‘agreed to’ acquire Instagram, and that the Instagram team will be joining the Facebook camp soon.

What is surprising is the price Facebook paid for the acquisition – a whopping $1 Billion (according to SAI). That’s about $31.25 for each share held by a shareholder.

Oh, Instagram for iOS users, and those who signed up for Instagram for Android recently – don’t worry. The app will continue to exist. That is, until Mark decides to ‘Zuck’ the app. Bet he wouldn’t.

Also, Skype and Instagram integration in the next big version of Windows Phone, Apollo, is very much a given, now. Remember, Microsoft owns a stake in Facebook. And we already know how close Microsoft and Facebook are.

via Facebook

Rounak Jain

A smartphone addict and a student, Rounak started this blog. Get in touch with him on Twitter @jainrounak or, mail him at [email protected]

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