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
- Apple Remote Desktop updated with Yosemite support
- OS X Yosemite 10.10.2, iOS 8.1.3 updates now available
- Sports Illustrated 120 SPORTS channel comes to Apple TV
- Logic Pro X update brings AirDrop support, new effects, tools, and more
- Parallels Access 2.5 released, adds file manager, computer-to-computer remote access
- The Google Translate iOS app is about to get a lot smarter