2012-04-09
Instagram. Facebook. Billion.
text 19:30:32
Today, we couldn’t be happier to announce that Instagram has agreed to be acquired by Facebook.
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.
The total consideration for San Francisco-based Instagram is approximately $1 billion in a combination of cash and shares of Facebook. The transaction, which is subject to customary closing conditions, is expected to close later this quarter.
