Facebook has announced its first acquisition to buy instagram -most popular photo sharing network application for smart phones. Facebook is paying $1 billion in cash and stock for this business deal. Also Facebook is going to continue the instagram as sperate brand and it will allow to post to other networks.
Instagram was launched in October 2010 which was only meant for iPhone.Instagram is expanded its support to android devices in last week and that increased the its users 1 million a day. And it has proven most popular smartphone application. Instagram has more than 30 million users uploading more than 5 million pictures every day.
Instagram allows users to share photos taken with their mobiles with their friends on instagram network and on Facebook,twitter or via message. Users also have ability to use different filters to alter the look and feel of their images before sharing.
Facebook founder Mark Zuckerberg wrote on his Facebook page: “We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience.
“We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.”
He added: “This is an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users. We don’t plan on doing many more of these, if any at all.”
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