The social media giant, Facebook, makes another a huge move by announcing it will be acquiring the ever popular Instagram. Over the last two years, the San Francisco based company has had over 30 million users. In a press release Mark Zuckerberg wrote:
“For years, we’ve focused on building the best experience for sharing photos with your friends and family,” Zuckerberg wrote. “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.”
Facebook will be acquiring Instagram for a reportedly $1 billion and possibly pushing the worth of Facebook after its recent IPO. Zuckerberg also stated:
“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,” Zuckerberg wrote. “We don’t plan on doing many more of these, if any at all. But providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.”
What are your thoughts?