Instagram, the popular photo sharing application which gained prominence on iOS – is recently made available for Android. Complete with a beautiful user interface and a full feature-set, it seems to have been worth the nail biting.
And even more recently, Facebook announced an agreement to acquire Instagram for roughly $1 Billion in cash and shares in the social network. Facebook said it expects to close the transaction later in the second quarter of 2012.
Co-Founder and Chief Executive Officer Mark Zuckerberg said in a status update that the two companies will remain independent, and that Instagram users will still have the ability to post to multiple social networks.
There was speculation last year that Facebook was planning to roll out a series of photo filters, in part to compete with apps like Instagram. By acquiring Instagram, Facebook now has the best of both worlds.
Ok, here is the status update from the Co-Founder and Chief Executive Officer of Facebook Mark Zuckerberg:
I’m excited to share the news that we’ve agreed to acquire Instagram and that their talented team will be joining Facebook.
The social network has continued to improve its photo viewer, and adding support from the Instagram team will likely lead to further refinements.
Millions of people around the world love the Instagram app and the brand associated with it, and Facebook should try to help spread this app and brand to even more people.
Providing the best photo-sharing experience is one reason why so many people love Facebook, and we knew it would be worth bringing these two companies together.
From our point, we do expect lots of changes from Facebook to its photo-sharing process… What could it be? Share your thoughts on comments!