[SGVLUG] fb buys instagram for $1 Billion ( or so.. )

[matti]

Wow... this is insane!! - matti



Facebook has just finished a deal to acquire mobile photo sharing app Instagram for approximately $1 billion in cash and stock.

...
Now it seems Facebook would rather buy Instagram which comes with a built-in community of photographers and photo lovers, while simultaneously squashing a threat to its dominance in photo sharing.



http://techcrunch.com/2012/04/09/facebook-to-acquire-instagram-for-1-billion/