Facebook has announced that they have purchased the popular iOS and Android photo sharing app Instagram, the news was announced by Facebook CEO Mark Zuckerberg on Facebook.
Facebook also announced how much they paid for Instagram, the deal is worth a total of $1 billion, and Facebook also announced that Instagram will continue to be run as a separate app.
I’m excited to share the news that we’ve agreed to acquire Instagram and that their talented team will be joining Facebook.
For years, we’ve focused on building the best experience for sharing photos with your friends and family. Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.
Instagram CEO Kevin Systrom also announce the news on the Instagram blog, and announced that they will be working with the Facebook team to evolve Instagram as a separate app from Facebook.
Source Facebook