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Posted On April 9, 2012 By In Facebook, Social Media, Top Stories

Facebook Acquires Instagram for $1 Billion

Facebook just announced that they would be acquiring photo-sharing app, Instagram for an estimated $1 billion in ” a combination of cash and shares of Facebook.”

Facebook CEO, Mark Zuckerberg, announced the acquisition on his timeline saying “in order to do this well, we need to be mindful about keeping and building on Instagram’s strengths and features rather than just trying to integrate everything into Facebook.”

He went on to state “millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people.”

The news comes shortly after the Android version became available adding to its over 25 million users.

Even with the acquisition, they plan to keep the apps built-in abilities to share photos on other social networks.

Source: Facebook

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Faridah Seriki has been interested in technology since she got her hands on a desktop when she was eight. She founded Technesstivity after releasing a successful blog she made for class combining her passion for both journalism and technology. Faridah graduated from Vivian Fowler in 2009 and lives in New York where she graduated from Hofstra University with a Bachelors degree in Broadcast Journalism