April 10th, 2012 Archive

Facebook’s Instagram Acquisition Not The Norm

April 10th, 2012 by ElizaP in News

Yesterday’s purchase of Instagram by social media giant Facebook will not be something the company does on a regular basis, said Mark Zuckerberg. The $1 billion acquisition marks the company’s first investment into a high-user service, and Facebook plans to build and grow the service independently. Instagram is a photo-sharing service which features filters that allow users to give any photo they’ve taken with their mobile device a vintage look.  Many eyebrows were raised by this move, including analysts who communicated its similarity to those purchases which occurred in the late 1990s during the ‘internet bubble’. But some are saying it was a smart move, as Instagram was Facebook’s biggest competitor in the photo sharing arena, something that is one of the most popular activities among Facebook’s over 800 million members. Zuckerberg says that many Instagram features will remain intact, including the ability to post to other social networks, and the choice to not share Instagram photos on Facebook.