Facebook Buys Instagram for $1B – Recap

I know this is a bit behind but, in brief, the world’s biggest social network acquired the world’s biggest mobile social network on April 9, 2012.

This does not mean that Instagram’s platform will simply be absorbed into FB and disappear. Zuckerberg’s explanation:

“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…. We will try to learn from Instagram’s experience to build similar features into our other products.”

One of the better POV’s on on why Facebook decided to buy Instagram came from the LA Times. One of my favorite lines:

“The San Francisco startup has just 13 employees. That works out to be $76 million per employee.”

Additional Resources on the Acquisition:

Mark Zuckerberg Announces it on his Timeline
https://www.facebook.com/zuck/posts/10100318398827991

Facebook Press Release
http://newsroom.fb.com/Announcements/Facebook-to-Acquire-Instagram-141.aspx

Biz Week Coverage
http://www.businessweek.com/articles/2012-04-09/facebook-snaps-up-instagram

Mashable Coverage
http://mashable.com/2012/04/09/facebook-instagram-buy/