How’s this for some big news on an otherwise slow Monday? Facebook CEO Mark Zuckerberg has let slip that his company plans to buy popular photo-sharing app Instagram (pending all of the standard regulatory approvals, naturally). According to a report from All Things D‘s Kara Swisher, Facebook will pick up the social app, which got its own long-awaited Android version, for a cool $1 billion in cash and shares. Ole Zuck confirmed the news on his personal blog, adding that the deal won’t affect Instagram’s integration with competing social networks:
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.
Instagram CEO Kevin Systrom confirmed via his site’s blog that the service, “is not going away,” adding, “The Instagram app will still be the same one you know and love.” Check out some PR on the subject after the break.
Continue reading Facebook to buy Instagram
from Engadget
