Facebook has acquired the most popular photography application, Instagram for approximately $1 billion in a combination of cash & shares.
The news was first shared by Mark Zuckerberg on his Facebook wall. Here’s what he has written:
Instagram has more than 27 million iPhone users and recently it was launched on Android platform. Within 12 hours of its Android launch, the app crossed 1 million Android users mark.
Now it would be interesting to see how Facebook would integrate Instagram on its network as Facebook was trying to acquire Instagram for a very long time.
What do you think of this acquisition — and how it will help Facebook?
Let us know your thoughts in the comments.