The popular site  agreed to purchase the photo-sharing mobile app for $1 billion in cash and stock Monday. Facebook icon The app, which can be used to apply faux-vintage filters to photographs, allows users to share photos with one another both directly and through posts to social networking sites. Instagram was founded less than two years ago by two graduates near  and the purchase is one of the largest acquisitions in Facebook history following after a failed takeover bid in early 2011 which had been declined by Instagram. Facebook co-founder  noted the importance of the ability to post to multiple social media sites at once in a post. He wrote on his personal timeline, "We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience." He said Facebook "plan[s] on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook."
The popular site Facebook agreed to purchase the photo-sharing mobile app for $1 billion in cash and stock Monday. Facebook icon The app, which can be used to apply faux-vintage filters to photographs, allows users to share photos with one another both directly and through posts to social networking sites. Instagram was founded less than two years ago by two graduates near San Francisco, California and the purchase is one of the largest acquisitions in Facebook history following after a failed takeover bid in early 2011 which had been declined by Instagram. Facebook co-founder Mark Zuckerberg noted the importance of the ability to post to multiple social media sites at once in a post. He wrote on his personal timeline, "We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience." He said Facebook "plan[s] on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook."
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Facebook
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San Francisco, California
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Mark Zuckerberg