So, would you Adam and Eve it? Mark Zuckerberg let it slip earlier today that Facebook will buy out Instagram. We know that Facebook has been valued at $500bn so the $1 billion it needs to secure the deal is small fry.
Mark Zuckerberg declared his excitement on his Timeline when he said, ‘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’.
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Mark Zuckerberg’s Quote Continued…
‘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.
We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagram’s on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.
These and many other features are important parts of the Instagram experience and we understand that. We will try to learn from Instagram’s experience to build similar features into our other products. At the same time, we will try to help Instagram continue to grow by using Facebook’s strong engineering team and infrastructure.
This is an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users. We don’t plan on doing many more of these, if any at all. But providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.
We’re looking forward to working with the Instagram team and to all of the great new experiences we’re going to be able to build together’.
Meanwhile, Instagram CEO Kevin Systrom confirmed via his site’s blog that the service, "is not going away," and added; "The Instagram app will still be the same one you know and love."
Well, that’s all good and well but some of our readers have already decided to start pulling their images from Instagram and Facebook, we’re not quite sure how this is going to pan out just yet, it’s a case of watch this space, let them get all the necessary regulatory approval first and we’re see where it’s heading…