Facebook Takes Instagram Under Its Wing for $1 Billion

Facebook is taking over the world! OK, not quite, but they did announce today that they will acquire Instagram, a photo sharing network that has grown in popularity, according to CNNMoney. Facebook has agreed to buy the photo sharing network for $1 billion in a combination of cash and stock, making it Facebook’s biggest acquisition yet, in both price and reach.facebook 150x150 Facebook Takes Instagram Under Its Wing for $1 Billion

Instagram’s 30 million users currently enjoy using the photo sharing network as a way to upload smartphone photos, customize them with different filters and visual flairs, geotag them to nearby locations, and share them with followers. Facebook insists that users will still be able to do all of that and more after the acquisition.

To read the full article, visit http://money.cnn.com/2012/04/09/technology/facebook_acquires_instagram/.

 

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About Kelsey Owen

Kelsey Owen is the Communications and Marketing Coordinator for the Council of Better Business Bureaus based out of Arlington, VA. Kelsey graduated from Denison University with a degree in economics and communication and is currently pursuing a master's degree in media entrepreneurship.