Facebook announces the acquisition of Instagram for approximately $1 billion. From Facebook Newsroom:
MENLO PARK, CALIF.—April 9, 2012—Facebook announced today that it has reached an agreement to acquire Instagram, a fun, popular photo-sharing app for mobile devices.
The total consideration for San Francisco-based Instagram is approximately $1 billion in a combination of cash and shares of Facebook. The transaction, which is subject to customary closing conditions, is expected to close later this quarter.
Would iOS users still friend Android user on Facebook? When Instagram for Android was released about a week ago some elitist iOS users were not too happy about it.