Is Instagram Owned by Facebook | New 2019

Facebook snapped up the widely popular photo-sharing app Instagram Monday, for about $1 billion in a mix of cash money as well as supply.

Facebook Chief Executive Officer Mark Zuckerberg announced the purchase in a blog post on his Facebook Timeline Monday.

The sale is expected to shut later this quarter, and also will certainly bring the nine-person staff of Instagram to the social network.

Is Instagram Owned By Facebook

" For many years, we have actually focused on constructing the best experience for sharing images with your family and friends," Zuckerberg said in the blog post. "Currently, we'll have the ability to work a lot more closely with the Instagram team to additionally supply the most effective experiences for sharing beautiful mobile images with individuals based upon your interests."

Zuckerberg took place to claim that the firm will certainly be building on Instagram's staminas and functions and also growing the app separately rather than "just trying to integrate whatever into Facebook."

Facebook intends on maintaining functions within the app that permit photos to be released on various other social media networks, as well as the capacity to have fans and also adhere to people that are not necessarily your Facebook buddies.

" We will try to pick up from Instagram's experience to develop similar functions right into our various other items," Zuckerberg stated. "At the same time, we will try to help Instagram continue to expand by using Facebook's strong design team as well as facilities."

Instagram CEO Kevin Systrom resembled Zuckerberg's statements on the Instagram business blog adding "We're psyched to be signing up with Facebook as well as are delighted to develop a far better Instagram for everybody."

Instagram introduced its iOS application in October 2010, and concerned Android for the very first time last week.
This is the very first time Facebook has obtained a firm or item with numerous users. "We don't plan on doing a lot more of these, if any whatsoever." Zuckerberg claimed. "However offering the best picture sharing experience is one reason that numerous individuals enjoy Facebook and we knew it would be worth bringing these 2 firms with each other."

Tweet