Does Facebook Own Instagram | New 2019

Facebook purchased the widely popular photo-sharing application Instagram Monday, for roughly $1 billion in a mix of money and stock.

Facebook Chief Executive Officer Mark Zuckerberg revealed the procurement in a post on his Facebook Timeline Monday.

The sale is anticipated to close later this quarter, and also will bring the nine-person personnel of Instagram to the social network.

Does Facebook Own Instagram

" For many years, we've focused on building the most effective experience for sharing photos with your friends and family," Zuckerberg claimed in the blog post. "Now, we'll have the ability to work a lot more very closely with the Instagram team to additionally provide the very best experiences for sharing attractive mobile photos with people based on your passions."

Zuckerberg went on to claim that the firm will certainly be building on Instagram's strengths and also features and also growing the application individually as opposed to "simply attempting to integrate every little thing right into Facebook."

Facebook plans on maintaining attributes within the application that enable photos to be released on other social networks, as well as the ability to have fans and comply with individuals that are not always your Facebook good friends.

" We will attempt to pick up from Instagram's experience to build similar features right into our various other items," Zuckerberg stated. "At the same time, we will try to aid Instagram continue to expand by using Facebook's strong design team as well as facilities."

Instagram Chief Executive Officer Kevin Systrom resembled Zuckerberg's statements on the Instagram company blog adding "We're upset to be joining Facebook and also are thrilled to construct a much better Instagram for everybody."

Instagram launched its iOS application in October 2010, as well as involved Android for the first time recently.
This is the very first time Facebook has actually gotten a business or item with a lot of customers. "We don't plan on doing a lot more of these, if any type of in all." Zuckerberg stated. "But supplying the most effective photo sharing experience is one reason a lot of individuals love Facebook and we understood it would certainly be worth bringing these two business together."

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