Instragram is a now popular photo sharing application and Facebook bought it for $1Billion in stock and cash, it is said not to be a notable move since Facebook is worth under $100 million.
Many people already upload there photo from Instragram to Facebook anyway, I think it is understandable why Mark Zuckerburg, chief of Facebook bought them.In a post on his profile page, Facebook’s chief Mark Zuckerberg said Instagram would continue to work with rival social networks. That will allow users to post on other services, follow users outside of Facebook, and to opt out of sharing on Facebook.
From New York Times Zuckerburg says,“For years, we’ve focused on building the best experience for sharing photos with your friends and family,” Mr. Zuckerberg wrote. “Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.”
The chief executive at Instragram, Kevin Systrom, basically agrees with Zuckerburg and looks forward to working to together for new company resources and talent.
That latest funding round valued Instagram at about $500 million, according to one person with knowledge of the matter, who requested anonymity because discussions were private. Facebook’s purchase, one week later, means that investment has now doubled in value.
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