PetaPixel

Facebook Buys Instagram for $1 Billion

Turns out retro photo filters and mobile photo sharing are big business. Just how big? Get this: Facebook has agreed to acquire 17-month-old Instagram for $1 billion in cash and stock. Instagram amassed 27 million users through iOS alone, but Facebook was likely motivated by the photo sharing app’s recent Android launch, which signed up 1 million new members in the first 24 hours alone. Just last week it was reported that Instagram had raised $50 million based on a $500 million valuation. Those investors scored a 2X return in less than a week.

(via TechCrunch)


 
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  • http://twitter.com/TheCrazyLudwig Ian Ludwig

    “Those investors scored a 2X return in less than a week.” Awesome double but I bet they will feel shorted on a very large long term return. Deals like this don’t just happen overnight so it was probably in the works while they were securing financing. 

  • http://twitter.com/davepolak Dave Polak

    I have already deleted my account as I want absolutely nothing to do with Facebook.

  • Bigdavid

    Social Media App Bubble….burting starts here

  • DeepFriedButter

    i think we’re already over the bursting point. nowhere but downhill from here.

  • http://slugmandrew.com slugmandrew

    The collapse of facebook could just be a few years away.

  • http://www.richardsnotes.org Richard

    Maybe you did that prematurely… we don’t know what Facebook will do with instagram. Like you, I want nothing to do with Facebook but I use Instagram daily and like it. If nothing changes I don’t feel the need to quit in protest, seems like that’s shooting myself in the foot as there isn’t a decent alternative. Path is Facebook lite, at least Instagram is all about images (so far).

  • http://cohenphoto.webs.com/ Matt

    Lol next we’ll be able to use instagram on our webcams

  • http://twitter.com/davepolak Dave Polak

    Facebook even owning Instagram is reason enough to quit. It was nothing more than me posting crappy phone pictures to Twitter anyways. I’m not gonna miss it.

  • Charlotte Taylor

    Try Deja mi

  • Hop

    I also want nothing to do with Facebook, and am hoping instagram stays the same or I’ll be forced to delete it if they become as shaddy and creepy as Facebook

  • John R

    Obscene use of money on pointless shit. 

  • http://twitter.com/stoyanov stanimir stoyanov

    So, how exactly an image-filter app warrant a one-billion-dollar sale? Are we in for a ‘social media app’ bubble this year?

  • Jostein Roalkvam

    Meanwhile Kodak is going down the shitter. Fucking pathetic. Instagram can suck my hairy balls

  • Mantis

    Facebook is just trying to snuff out their biggest competitor in image sharing before they get too big, while getting access to all the user data.

  • http://www.specsx.com/ Specs

    Instagram has more than 1 million users and this apps is very useful in facebook yet facebook were not the first to recognize this idea were not able to realize how important this idea to their existing application. So buying it is no brainer for them and one billion dollars is just only a coin compared to what the effect the instagram will bring to the facebook users.