Facebook Buys Potential Rival Instagram for $1 Billion
Facebook has done a deal to acquire mobile photo sharing app Instagram for approximately $1 billion in cash and stock. Instagram will remain an independently branded standalone app that’s separate from Facebook, but the services will increase their ties to each other. Read the Full Article on Tech Crunch, as well as links to other discussions online about the deal
UPDATE: Distimo have published an interesting report entitled ‘The Rise of Instagram and the Significance of the First Billion Dollar App Acquisition‘. You can access the report by signing up for Distimo’s monthly publication updates.
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