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Facebook buys photo-sharing network Instagram for $1bln


April 10, 2012 - London

Facebook has made its largest ever acquisition by purchasing the photography-based social network, Instagram, for one billion dollars.

The service allows users to take pitures, apply a range of visual effects and share them through Instagram itself or other social networks, including Facebook and Twitter.

The service helps in giving photographs a retro feel, as if they had been taken on a Polaroid instant camera, The Telegraph reports.

According to the paper, Kevin Systrom, chief executive of Instagram, which was founded less than two years ago, pledged that the service would continue in its current guise rather than becoming just another Facebook feature.

"It's important to be clear that Instagram is not going away. We'll be working with Facebook to evolve Instagram and build the network. We'll continue to add new features to the product and find new ways to create a better mobile photos experience," Systrom said in a blog post.

"The Instagram app will still be the same one you know and love. You'll still have all the same people you follow and that follow you.You'll still be able to share to other social networks. And you'll still have all the other features that make the app so fun and unique," Systrom added.

Meanwhile, Facebook founder Mark Zuckerberg pledged to continue to develop Instagram as a separate brand, allowing it to post to rival networks.

"We need to be mindful about keeping and building on Instagram's strengths and features rather than just trying to integrate everything into Facebook," Zuckerberg wrote in a post on his own Facebook profile.

"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.

ANI

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