Facebook acquires Instagram for $1 billion By Laurie SegallÂ @CNNM iodinyTechÂ April 9, 2012: 3:19 PM ET newly YORK (CNNMoney) -- Facebook has agreed to buy photo sharing net Instagram for $1 billion in a combination of hard cash and stock, the bon ton announced Monday. Its Facebooks biggest acquisition ever, in both charge and reach. With approximately 30 million active users, Instagram has the largest audience of all inaugural Facebook has purchased, Facebook CEO Mark Zuckerberg said in a blog post. We dont plan on doing m either more than of these, if any at all,Â Zuckerberg wrote. But providing the best photo sharing let is one reason why so many mess revel Facebook and we knew it would be worth bringing these two companies together. Founded in 2010 by Mike Krieger and Kevin Systrom, Instagram has just a handful of employees funding its wildly popular photo app, which lets users add distinctive filters and visual genius to photos theyve snapped on their smar tphones. The long-awaited Android version, released cash in ones chips week, racked up more than 1 million downloads in just 12 hours. The fling in any case met aÂ backlash from iPhone users,Â who enjoyed having an grievous bodily harm hold on the classy service. Just one calendar month ago, Instagrams creators claimed they had no interest in selling.
Were pretty focused on remaining an independent familiarity right now, Instagram cofounder Systrom told CNNMoney at South by Southwest, where the company delivered a talk on its wild growth.Â even off some of Instagrams investors were take aback by the take over. Late last week,Â Instagram closed a $5! 0 million financing fatten upÂ that valued the company at $500 million, according to a source involved in the deal. Those investors essentially doubled their money, instantly. Facebook likes to scoop up up hot startups, efface their products, and redeploy their staff on other projects. Thats definitelyÂ nonÂ the plan for Instagram, all the players insist. Its important to be clear that Instagram is not going away,...If you want to get a full essay, score it on our website: OrderCustomPaper.com
If you want to get a full essay, visit our page: write my paper