Facebook To Acquire Instagram For $1 Billion

Less than two weeks ago I was surprised with the sudden release of Instagram for Android, yesterday I was surprised even more when Mark Zuckerberg announced on a blog post that they would buy Instagram the popular photo-filtering and sharing app for iOS and Android devices. 

Yes you read it right the social networking giant Facebook will buy the two-year old Instagram for a whopping $1 billion. One week since Instagram for Android was released it has been reported that it had been downloaded more than five million times, that's an additional to the 27 million iOS users before it was released to Android gadgets. 

Some bloggers reported that even though Facebook buys Instagram, the latter will still continue to operate independently and will still allow to share or post filtered images to other social sites

Instagram CEO Kevin Systrom said on an official blog post, "It's important to be clear that Instagram is not going away, the Instagram app will still be the same app you know and love." I think this is because some people are thinking that Facebook may eventually shut it down like what happened to Gowalla that was also purchased by Facebook in December 2011 and got terminated in March of this year.   

Facebook according to most reports will pay Instagram a total of $1 billion in cash and stock making it the biggest deal or acquisition Facebook has ever made so far. Do you have any thoughts about this matter? Feel free to post a comment below.  

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