Facebook buys Instagram photo sharing network
BBC News - Facebook buys Instagram photo sharing network for $1bn
Instagram - Instagram + Facebook
Facebook has announced it is to buy Instagram - the popular photo-sharing smartphone app.
Facebook is paying $1bn (£629m) in cash and stock for the takeover.
Instagram was only launched in October 2010 - initially just for the iPhone before being offered as an Android app last week.
Facebook's chief executive Mark Zuckerberg has pledged to continue to develop Instagram as a separate brand, allowing it to post to rival networks.