Mark Zuckerberg Makes His Most Significant Move To Date, As Facebook Prepares To Go Public!
Just a month or so before hitting Wall Street with their IPO, Facebook has made its first significant purchase in its history, acquiring the hot mobile photo-sharing app Instagram for $1 billion. Mark Zuckerberg announced the deal on Facebook, of course, calling it an "important milestone" in the company's history. The San Francisco-based Instagram (all these companies are in NoCal) has experienced tremendous growth since launching in 2010. The company has 30 million users, about double from the beginning of the year. That type of growth made it the hottest social networking site on the block. The implications of this huge deal will be felt for years to come. It's not only about Facebook's acquisition of InstaGram, but the message it sends to start-ups. Make no mistake about it, this is huge.
"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."
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