Facebook drops $1 billion, pockets Instagram

April 16, 2012 in Cameras, News, Phones

2012-04-11 Instagram screenshot small

On Easter Monday (April 9th), Mark Zuckerberg announced that Facebook will be acquiring the photo-sharing app Instagram, a purchase reported to have been agreed at the price of $1 billion. The acquisition comes at a perfect time. Instagram’s user base has been rising steadily since it was launched in March 2010, and with its recent (as in, last week) extension of its services to Android (as well as iOS) users, the alarm bells must have started ringing for Zuckerberg and his team. After all, other features aside, there is an argument for saying that photo-sharing made Facebook what it is [...]