Facebook Buys Instagram

Mark Zukerberg has announced that Facebook has purchased Instagram for the handsome sum of one billion dollars, making 27-year-old CEO and founder Kevin Systrom a very wealthy man.

As reported by Pedestrian TV, Zukerberg is committed to keeping Instagram’s nine employees and 30 million users independent of Facebook.

Taking to his official Facebook page, Zuckerberg posted the following statement…

“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.”

As Music Feeds recently reported, Instagram has just teamed with Mint Digital to offer a new service in which users can convert their images into fridge magnets.

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