How's this for some big news on an otherwise slow Monday- Facebook CEO Mark Zuckerberg has let slip that his company plans to shop for popular photo-sharing app Instagram (pending the entire standard regulatory approvals, naturally). Consistent with a report from All Things D's Kara Swisher, Facebook will pick up the social app, which got its own long-awaited Android version, for a groovy $1 billion in cash and shares. Ole Zuck confirmed the scoop on his personal blog, adding that the deal won't affect Instagram's integration with competing social networks:
We predict the truth that Instagram is attached to other services beyond Facebook is a vital component of the experience. We plan on keeping features just like the ability to post to other social networks, the facility not to share your Instagrams on Facebook if you would like, and the flexibility to have followers and follow people separately out of your friends on Facebook.
Instagram CEO Kevin Systrom confirmed via his site's blog that the service, "will never be going away," adding, "The Instagram app will still be the identical one you already know and love." Look at some PR at the subject after the break.
Facebook to obtain Instagram
MENLO PARK, CALIF.-April 9, 2012-Facebook announced today that it has reached an agreement to obtain Instagram, a fun, popular photo-sharing app for mobile devices.
The whole consideration for San Francisco-based Instagram is approximately $1 billion in a mix of money and shares of Facebook. The transaction, that is subject to customary closing conditions, is anticipated to shut later this quarter.
Mark Zuckerberg, founder and CEO of Facebook, posted concerning the transaction on his Timeline:
I'm excited to share the inside track that we've agreed to procure Instagram and that their talented team can be joining Facebook.
For years, we've fascinated with building the coolest experience for sharing photos together with your family and friends. Now, we'll have the ability to work much more closely with the Instagram team to also offer the most effective experiences for sharing beautiful mobile photos with people in response to your interests.
We believe these are different experiences that complement one another. But that allows you to do that well, we have to bear in mind about keeping and building on Instagram's strengths and contours instead of just attempting to integrate everything into Facebook.
That's why we're committed to building and growing Instagram independently. Millions of individuals worldwide love the Instagram app and the emblem related to it, and our goal is to assist spread this app and brand to much more people.
We expect the truth that Instagram is hooked up to other services beyond Facebook is a vital a part of the experience. We plan on keeping features just like the ability to post to other social networks, the power not to share your Instagrams on Facebook if you'd like, and the power to have followers and follow people separately out of your friends on Facebook.
These and plenty of other features are important parts of the Instagram experience and we keep in mind that. We can learn from Instagram's experience to construct similar features into our other products. Collectively, we'll attempt to help Instagram keep growing through the use of Facebook's strong engineering team and infrastructure.
Here's an amazing milestone for Facebook because it is the first time we've ever acquired a product and corporate with such a lot of users. We do not plan on doing many more of those, if any in any respect. But providing the ideal photo sharing experience is one this is because such a lot of people love Facebook and we knew it might be worth bringing these two companies together.
We're longing for working with the Instagram team and to all the great new experiences we are going to be capable to build together.
From WhatNewsToday.net
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