Facebook has acquired the popular photo sharing app Instagram for roughly $1 Billion. This deal was finalized today and it seems like Facebook will not make any major changes to the app and will maintain the whole essence of the app as it is. Facebook has been wanting to come up with a neat photo service of its own for a long time now, and what better way to achieve that goal than to acquire something with an enormous user base (over 25 million).
It’s a major acquisition, no doubt, but lets hope Facebook doesn’t make a mess of it. The point behind the acquisition is to get some talented blood from the Instagram team to Facebook, aiding their future projects, if any, with regard to photo sharing.
For the Instagram team, this means that it will finally have the backing of a major player in the tech industry and the support to take it way ahead. Mike Krieger and Kevin Systrom might not have anticipated such a huge acquisition when they first started up Instagram, but strange things do happen in the silicon valley. Systrom mentioned in a blog post that this acquisition doesn’t mean the end of the road for Instagram and rightly so. Facebook would want to keep Instagram as a separate entity and not merge it with itself in any way which is understandable.
Twitter’s reaction to this acquisition however has been mostly negative with most users calling out to others to permanently delete their account so as to not give a sense of accomplishment to Facebook. A little harsh if you ask us.
Here’s the full press release from Facebook.