Facebook Acquires Instagram For $1 Billion
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Facebook Acquires Instagram For $1 Billion
Facebook has just announced that it is buying Instagram, the hugely popular photo-sharing service.
According to reports, Facebook may have bought Instagram for a whopping $1 billion.
Facebook founder and CEO Mark Zuckerberg announced the acquisition in a blog post:
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Wow...!
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Stupid decision, if you ask me.
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13 employees?? WOW. I hate instagram but i can respect the business
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You clearly don't know the stats of this app. It has 30+ million users. And since facebook is the leading social network, AND GOT CASH, why not outdo the competition. As you know instagram is not quite there. But they will. Basically, a great decision.
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I agree..
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17 employees divide 1 billion wow ( not equally) but still, time to buy an island
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Aaaand the internet bubble is building up (again!). Facebook is slowly turning into a hedge fund but not like a conventional one. Buy out the techies with high number of users, drain all the knowledge and best whizzkids out of these techies, force a synergy so all the best features are added to facebooks products and than slowly dump these drained techies! Good for you marky mark zuckerberg!
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30+ million users 99.9% of which are already Facebook users. So the acquisition was about $33,000 per new user. Sounds solid to me. Seriously though - it's all funny money at this point. The Instagram guys are just the latest sellouts. Hopefully they'll leave and do something innovative with their money.
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Insane stuff, what nice valuation.
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And it raised $50 million based on a $500 million valuation just days before this announcement. They make nothing and they lose money and the value doubles in a few days? It's just history repeating itself.
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**** Facebook.
