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Facebook Businesses Social Networks The Almighty Buck

Facebook To Buy Instagram For $1 Billion 162

Posted by Soulskill
from the payday-at-the-instagram-office dept.
Dorduan writes with news that Facebook is buying Instagram, the company who makes the popular mobile photo-sharing app of the same name, for approximately $1 billion. Mark Zuckerberg wrote, "... in order to do this well, we need to be mindful about keeping and building on Instagram's strengths and features rather than just trying to integrate everything into Facebook. That's why we're committed to building and growing Instagram independently. Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people. We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook."
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Facebook To Buy Instagram For $1 Billion

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  • One Billion? (Score:5, Interesting)

    by NeutronCowboy (896098) on Monday April 09, 2012 @12:34PM (#39620643)

    OK, I have to admit it: I don't get it. What is it about Instragram that is worth $1Billion? Isn't it just a photo app with some built-in filters and sharing tools? Kinda like any other semi-advanced photo app?

    So again - 1 $Billion? I mean, grats to the Instagram founders for cashing out in a massive fashion. But is this just another AOL? Is Facebook just grasping at straws in terms of trying to grow?

  • Re:One Billion? (Score:5, Interesting)

    by teh31337one (1590023) on Monday April 09, 2012 @12:37PM (#39620693)

    Facebook may never make that $1b back, but it's still smart. Instagram was the only thing challenging their dominance in photo sharing. Via Twitter [twitter.com]

  • Re:One Billion? (Score:5, Interesting)

    by poetmatt (793785) on Monday April 09, 2012 @12:48PM (#39620815) Journal

    Yep. this is a "purchase to shut it down.". Funny how things happened right around when they released for android (even though it's likely that this deal was in the works for months).

  • by samazon (2601193) on Monday April 09, 2012 @01:23PM (#39621185)
    The problem is, it isn't isolated idiots. I have friends who are not "idiots" who are genuinely offended that "their" app is now available for use by people with Android phones. It's an Apple elitism that I, for one, refuse to be a part of. Some of my favorite tech bloggers swear by Apple (one even worked for them) and I don't hold it against them that they enjoy using and having the products, nor do I engage them in arguments/discussions about why I don't buy Apple products. The day that I absolutely need a Powerbook, iMac, iPod, iPhone, or iDon'tKnowWhatElse, is the day that I'll buy one, and not a moment sooner. Generally speaking, the people who use Apple products because they need them and not because of the Apple Cult of Personality are the ones who are the isolated (non-idiots) who don't think that they're better than everyone else because they spent half their paycheck on what amounts (for most people, again not including the class of people I am currently referring to) to a toy.
  • by oztiks (921504) on Monday April 09, 2012 @03:25PM (#39622529)

    Let me get this straight $1b for some freaking iPhone app? really? a free one? Who on earth gave these people money in the first place? and then let them go off and use that free money they received to buy a free app which apparently someone somewhere said was worth $1b?

    I really need to rethink this whole doing something tangible in order to actually make money concept. Perhaps look towards the do something miniscule but make it look like it was tangible department? any ideas?

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