April 9, 2012

Facebook buys Instagram for what?

It's official.  Instagram is worth $1 billion dollars (at least since Facebook acquired it.)

For those of you who didn't know, Instagram is a mobile photo sharing app that gained popularity quickly since it started close to 2 years ago.  It has about 27 million users from fans with iOS devices alone.  With the launch of the app for Android phones last week, Instagram clocked-in 1 million registered users in 24 hours. That is growing by the minute.
Becoming quickly a stiff competition for Facebook, who has struggled to create a more efficient, mobile photo sharing app, it had to move quickly.  This wasn't an easy acquisition since Facebook and Google had been out to get it for at least 18 months now.  Instagram had generated a lot of fans that are using this app more because of its ability to allow you to create high resolution digital photos with , new and live filters, instant tilt shift, , optional borders, one click rotation.  It had become an instant platform for photographers and photo lovers alike, those who do not like to be bombarded with all those Facebook interfaces when all they want is the share beautiful photos.

The developers Kevin Systrom and Mike Krieger knew what they started when they decided to create an app that focuses on digital mobile photography and social networking.  A little under 2 years later, Instagram has gone from an app with $0 in revenue to one that's worth a whooping $1 billion.

Mark Zuckerberg reveals that Instagram will remain independent of Facebook and users would have the option to opt-out of sharing their photos on Facebook if they want to, we'll see.

 Anyways here's what he wrote on Facebook's timeline after the acquisition:

  I’m excited to share the news that we’ve agreed to acquire Instagram and that their talented team will be joining Facebook. 

 For years, we’ve focused on building the best experience for sharing photos with your friends and family. Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests. 

 We believe these are different experiences that complement each other. But in order to do this well, we need to be mindful about keeping and building on Instagram’s strengths and features rather than just trying to integrate everything into Facebook. 

 That’s why we’re committed to building and growing Instagram independently. Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people. 

 We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan 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. 

 These and many other features are important parts of the Instagram experience and we understand that. We will try to learn from Instagram’s experience to build similar features into our other products. At the same time, we will try to help Instagram continue to grow by using Facebook’s strong engineering team and infrastructure. 

 This is an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users. We don’t plan on doing many more of these, if any at all. 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. We’re looking forward to working with the Instagram team and to all of the great new experiences we’re going to be able to build together.

That's all today folks, curious about Instagram? Learn all about it here, available for $0 from the app store (an now Android market.)
Instagram on my iPad.

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