Writing in (where else) a status update from Palo Alto this morning, Facebook CEO Mark Zuckerberg announced his company has agreed to purchase San Francisco-based social photography app Instagram for a reported $1 billion in cash and stock. According to Zuckerberg's press release, the wildly popular iPhone app, which recently caused a stir with an Android version, won't simply be lumped in with the rest of Facebook's services, but will continue to be developed as an independent product.
It's a sign of the times. Mark Zuckerberg announced that Facebook has purchased photo app Instagram for $1 billion. The 13-person team at Instagram has not been able to generate revenue but was able to build a strong base of 30 mill... Read Post
Instagram on Tuesday announced iOS version 2.5, the first major upgrade to the social picture sharing platform since the company was purchased by Facebook CEO Mark Zuckerberg for $1 billion in April 2012. The new update includes som... Read Post