Facebook acquires Instagram for $1 billion
Facebook confirmed on its website that it has reached an agreement to purchase Instagram. Facebook CEO Mark Zuckerberg says, "I'm excited to share the news that we've agreed to acquire Instagram and that their talented team will be joining Facebook."
The release says the photo-sharing app developer sold for US$1 billion. Instagram's CEO says that the company will continue to offer its flagship apps for iOS and Android as independent products.
Subscribe to Newsletter
Software Updatesmore updates
- Vizzywig 8xHD price tag now a very affordable $49.99
- Automatic targets teen drivers with License+ service
- Dropbox adds support for TouchID
- YouTube for iOS gets updated with full support for iPhone 6 and 6 Plus
- iOS 8.0.1 update now available (Updated -- Don't update!)
- NFL Mobile updated for 2014 Season with new Fantasy Football features, NFL Now integration