SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMC NEWS

TMCNET eNEWSLETTER SIGNUP

Facebook buying photo-share app Instagram for $1B
[April 09, 2012]

Facebook buying photo-share app Instagram for $1B

(Associated Press Via Acquire Media NewsEdge) MENLO PARK, Calif. -- Facebook says it will spend $1 billion to buy the photo-sharing software company Instagram.

It's Facebook's largest acquisition to date.

Instagram lets people apply filters to photos they snap with their mobile devices. Some of these make the photos look as if they've been taken in the 1970s or on Polaroid cameras.

Facebook says it will keep Instagram running independently. Users will still be able to run it on rival social networks such as Twitter. That's a departure from Facebook's tendency to buy small startups and integrate the technology _ or shut it down altogether.


The payment will be in cash and Facebook stock. Facebook is expected to complete its initial public offering of stock next month. The deal is expected to close by the end of June.


(c) 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

[ Back To TMCnet.com's Homepage ]





LATEST VIDEOS

DOWNLOAD CENTER

UPCOMING WEBINARS

MOST POPULAR STORIES





Technology Marketing Corporation

800 Connecticut Ave, 1st Floor East, Norwalk, CT 06854 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2014 Technology Marketing Corporation. All rights reserved.