The most surfed social network Facebook has purchased full ownership stake in Instagram Photo Sharing App for iPhone in a deal of $1 Billion
Facebook takes over Instagram in $1 Billion Deal
It seems Facebook is on its way towards diversifying its business activities. Recently a rather unexpected news just popped up regarding the acquisition of Instagram (a highly popular Photo Sharing App for Mobile Platforms) by Facebook.
For all those users unfamiliar with Instagram let me tell you Instagram is a free photo editing app for the Mobile Operating Systems such as iOS powered devices like iPhone and Android Powered devices.
The Instagram App for iPhone has managed to attract almost 30 Million active users in just a meager span of 18 months. That’s not all Apple named Instagram the best app for the year 2011, Android version of the App was released a few months ago that has managed 1 million signups until now. Instagram is one of the fastest growing apps and will continue to prosper if quality levels are kept higher.
Instagram App lets the users add various effects to transform their ordinary pictures into stunning images making sharing on social media websites easier. Facebook has plans to integrate effects of Instagram in its social network while the app and the company will remain as it is.
The deal is surely something to satisfy the shareholders of Facebook who recently picked out a proposal for launching targeted Facebook Mobile Ads. Let’s see if Facebook succeeds in adding a reliable revenue stream to their projects portfolio through this acquisition.
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