In April of This year Facebook announced that they would be acquiring the popular photo sharing app Instagram, in a deal worth $1 billion US dollars, and after getting the various regulatory approval, both Facebook and Instagram have announced that the takeover how now been completed.
As of yesterday, Facebook now owns Instagram, and Mike Schroepfer, Facebook’s VP of engineering said that “Instagram will continue to serve its community, and we will help Instagram continue to grow by using Facebook’s strong engineering team and infrastructure.” .
The Instagram team will now bee moving to Facebook’s office in Menlo Park, and Facebook have promised to run Instagram as a separate application from Facebook, we are looking forward to seeing how the app is developed in the future.
Source BGR
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