It is being reported that Facebook will pay $1 Billion in cash and stock for Instagram, which has exploded in popularity over the last year. In 2011, Instagram saw its users jump from 1 million to over 15 million in just 12 months.
Zuckerberg hopes to make the photo sharing experience on Facebook better, but also wants to keep building on the individual success that Instagram has already created.
Mark Zuckerberg’s plan for Facebook acquiring Instagram:
“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.”
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image credit: flashboy on flickr