Facebook purchasing Instagram for $1 billion in cash and stock


The web is heating up with a post by Mark Zuckerberg in which he announced on Facebook that Facebook itself will be acquiring popular photo sharing service Instagram. The deal is said to run around $1 billion in cash and stock and the Instagram team will be joining the Facebook. The news of this billion dollar deal has hit the internet fast and spread quickly.

It was just recently that Instagram launched on Android and saw a huge adoption of the service by millions of android users.

Check out the official post from Mark Zukerberg himself with the link below.

Source: Mark Zuckerberg Facebook account and Kevin CEO of Instagram

 

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Craig O'Sullivan
Craig O'Sullivan

Creator of Geektech.ie Passionate about Technology and always looking for that next cool gadget or app

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