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.
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/.