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April 9, 2012 09:06 pm GMT
Facebook has just finished a deal to acquire mobile photo sharing app Instagramfor approximately$1 billion in cash and stock. Instagram will remain a standalone app from Facebook, but the services will have increasing ties to each other. The transaction should go through this quarter pending some standard closing proceduresLast year, documents for a standalone Facebook mobile photo sharing app were attained by TechCrunch. Now it seems Facebook would rather buy Instagram which comes with a built-in community ofphotographersand photo lovers, whilesimultaneously squashing a threat to its dominance in photo sharing.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/TBBO1sgH5PI/
Facebook Buys Instagram For $1 Billion, Turns Budding Rival Into Its Standalone Photo App
Facebook has just finished a deal to acquire mobile photo sharing app Instagramfor approximately$1 billion in cash and stock. Instagram will remain a standalone app from Facebook, but the services will have increasing ties to each other. The transaction should go through this quarter pending some standard closing proceduresLast year, documents for a standalone Facebook mobile photo sharing app were attained by TechCrunch. Now it seems Facebook would rather buy Instagram which comes with a built-in community ofphotographersand photo lovers, whilesimultaneously squashing a threat to its dominance in photo sharing.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/TBBO1sgH5PI/
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