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Facebook Acquires Instagram For $1 Billion.

Instagram is the websites that celebrities use Just as we were getting used to the photo-sharing site, Facebook has now finalized discussions to buy the network for $1 billion in a combination of cash and stock, it announced barely an hour ago. This gives Facebook access to the medium’s 30 million active users – the largest audience of any start-up Facebook has purchased.

With Instagram, Facebook will get a formidable mobile player – an area that is seen as a weakness for the sprawling social network. Founded two years ago, the service — which lets users share photos and apply stylized filters – has become one of the most downloaded applications on the iphone, with some 30 million users.

This is Facebook’s biggest acquisition ever, in both price and reach. And it’s for good reason; one of Facebook’s abiding strenghts has been its capacity as the world’s largest photo-sharing site. Instagram was competition for that. “We don’t plan on doing many more of these, if any at all,” Facebook CEO Mark Zuckerbag said in a blogpost. “But 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.”

 

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