Mark Zuckerberg took to Facebook today
to announce that Facebook has acquired photo-sharing service Instagram
for $1 billion in “a combination of cash and shares of Facebook.” Over
at the Instagram blog, CEO Kevin Systrom writes about the acquisition, and notes that “You’ll still be able to share to other social networks.”
Notably, Zuckerberg writes, “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.”
