According to Reuters, Facebook will pay $1 billion in cash and stock for Instagram, a 2-year-old photo-sharing application developer. Instagram is a highly popular application that is available for iOs and Android, while we have been waiting for them, a similar application, InstaPhoto popped out. The significance of this is huge as its one of the largest or even the largest acquisation made by FaceBook.
The Instagram application, which allows users to add filters and effects to pictures taken on their iPhone and Android devices and to share those photos with their friends, has gained about 30 million users since it launched in January 2011.
Instagram says that as of the end of 2011, its users had uploaded some 400 million photos or about 60 pix per second, suggesting the sort of activity that Facebook seeks as it tries to wring revenue from mobile devices. Instagram launched its Android app just last week, garnering more than one million downloads already.
Will this mean that FaceBook will take the whole lot of Instagram functions, integrate into their web application and mobile application? Which, will mean that our FaceBook mobile application will get Instagram for free? I do hope so!