Facebook buys Instagram photo sharing network

[Devontechie]

BBC News - Facebook buys Instagram photo sharing network for $1bn

 

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.

 

Instagram - Instagram + Facebook

[beeswax]

BBC News - Instagram wants right to sell users' photos to advertisers