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Facebook To Buy Instagram For $1 Billion

Posted by Soulskill on from the payday-at-the-instagram-office dept.

Dorduan writes with news that Facebook is buying Instagram, the company who makes the popular mobile photo-sharing app of the same name, for approximately $1 billion. Mark Zuckerberg wrote, "... in order to do this well, we need to be mindful about keeping and building on Instagram's strengths and features rather than just trying to integrate everything into Facebook. That's why we're committed to building and growing Instagram independently. Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people. We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. 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."

9 of 162 comments (clear)

  1. One Billion? by NeutronCowboy · · Score: 5, Interesting

    OK, I have to admit it: I don't get it. What is it about Instragram that is worth $1Billion? Isn't it just a photo app with some built-in filters and sharing tools? Kinda like any other semi-advanced photo app?

    So again - 1 $Billion? I mean, grats to the Instagram founders for cashing out in a massive fashion. But is this just another AOL? Is Facebook just grasping at straws in terms of trying to grow?

    --
    Those who can, do. Those who can't, sue.
    1. Re:One Billion? by aaandre · · Score: 5, Insightful

      The application details are a formality. The 30+million users are the product.

      Facebook is buying cattle fenced in by another app, and moving it within its world (where Google cannot reach :).

    2. Re:One Billion? by poetmatt · · Score: 5, Interesting

      Yep. this is a "purchase to shut it down.". Funny how things happened right around when they released for android (even though it's likely that this deal was in the works for months).

  2. Wonder how iPhone idiots will react to this? by teh31337one · · Score: 5, Funny

    Here's their reaction to Instagram on android: http://www.androidpit.com/en/android/blog/404116/instagram-for-android

    More here: https://twitter.com/#!/AndroidAGram

    And my personal favourites:

    The Bad Guy @DamnLes
    Apple needs to stop whoever is converting their programs.. Now android have temple run and instagram.. its not special to have an iphone

    Michael @Periphereality
    @DamnLes I agree they need to stop the guy who keeps converting the iPhone apps! It should be illegal isn't it against copywright?!1

    1. Re:Wonder how iPhone idiots will react to this? by maccodemonkey · · Score: 5, Insightful

      Spoiler alert: All the platforms have their idiots.

    2. Re:Wonder how iPhone idiots will react to this? by samazon · · Score: 5, Interesting

      The problem is, it isn't isolated idiots. I have friends who are not "idiots" who are genuinely offended that "their" app is now available for use by people with Android phones. It's an Apple elitism that I, for one, refuse to be a part of. Some of my favorite tech bloggers swear by Apple (one even worked for them) and I don't hold it against them that they enjoy using and having the products, nor do I engage them in arguments/discussions about why I don't buy Apple products. The day that I absolutely need a Powerbook, iMac, iPod, iPhone, or iDon'tKnowWhatElse, is the day that I'll buy one, and not a moment sooner. Generally speaking, the people who use Apple products because they need them and not because of the Apple Cult of Personality are the ones who are the isolated (non-idiots) who don't think that they're better than everyone else because they spent half their paycheck on what amounts (for most people, again not including the class of people I am currently referring to) to a toy.

      --
      I have the hiccups.
  3. Is Slashdot broken today? by readandburn · · Score: 5, Funny

    This news is from earlier today, not from last week. I'm worried that Slashdot may be abandoning its roots.

    1. Re:Is Slashdot broken today? by Bill+Hayden · · Score: 5, Funny

      Our apologies... We've scheduled a dupe for next week to rectify this problem. --The Management

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  4. What's cooler... by Anonymous Coward · · Score: 5, Funny

    What's cooler than paying a million dollars for a useless hipster app?

    Paying a BILLION dollars.