Facebook bought the emerging photo-sharing application Instagram for a reported $1 Billion.
Though Facebook has before acquired some small companies but now the company has gone all out for this buyout. as it buys the company in cash and stock. This move by Facebook was an desperate attempt to stay cool and up its quality mark against it competitors. Facebook hurried on to takeover Instagram basically to keep it away from Google which has been making its influence grow into the lives of people. There were mixed views to this news as people were seen posting some offensive images online and some others posted their FB statues finding out the news to be good. So we have seen host of new changes by Facebook this year. I think this acquisition will bring some more changes as well. Let’s wait and watch.
Here is the screenshot of latest update of Mark Zuckerberg on his Facebook Page.