Is Instagram Owned by Facebook | New 2019

Facebook snapped up the extremely popular photo-sharing app Instagram Monday, for roughly $1 billion in a combination of cash money and supply.

Facebook Chief Executive Officer Mark Zuckerberg revealed the acquisition in a message on his Facebook Timeline Monday.

The sale is expected to shut later on this quarter, as well as will certainly bring the nine-person team of Instagram to the social network.

Is Instagram Owned By Facebook

" For years, we have actually focused on constructing the very best experience for sharing photos with your friends and family," Zuckerberg stated in the article. "Currently, we'll be able to work even more closely with the Instagram group to additionally provide the most effective experiences for sharing stunning mobile images with individuals based on your rate of interests."

Zuckerberg went on to say that the business will be building on Instagram's strengths as well as attributes as well as growing the app individually as opposed to "just trying to integrate whatever into Facebook."

Facebook plans on keeping functions within the application that permit pictures to be published on various other social networks, and the capacity to have followers and follow people that are not necessarily your Facebook pals.

" We will certainly attempt to pick up from Instagram's experience to develop comparable functions into our other products," Zuckerberg claimed. "At the same time, we will try to help Instagram continue to grow by using Facebook's solid engineering group and infrastructure."

Instagram Chief Executive Officer Kevin Systrom echoed Zuckerberg's declarations on the Instagram business blog including "We're upset to be signing up with Facebook and also are excited to develop a much better Instagram for everyone."

Instagram introduced its iphone app in October 2010, as well as involved Android for the first time last week.
This is the first time Facebook has actually obtained a company or product with numerous individuals. "We don't plan on doing many more of these, if any in any way." Zuckerberg said. "However offering the best photo sharing experience is one reason that a lot of people love Facebook as well as we understood it would certainly be worth bringing these two companies with each other."

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