Retro Round
by admin on Thursday, November 17th, 2011 | Comments Off
Retro Round
Facebook Buys Instagram For $1 Billion. Smart Arbitrage. (Forbes)
Facebook is buying Instagram, according to this post today from Mark
Zuckerberg. The purchase price of $1 billion will be paid in cash and Facebook
shares. From the blog post:
> 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.
Instagram rocketed to 30 million iOS users in 18 months and was named iPhone
app of the year in 2011. It is one of the best apps for taking and sharing
photos from the iPhone. Its square images and assorted image filters let
anyone make retro, techno and pretty pictures out of mundane shots of their
kids, pets, food. Instagram's Android version, released last week, got
millions of downloads immediately. But $1 billion, if true, is still a crazy
number. Instagram doesn't make any money. Nor did it say it was focusing on
revenue. It is still chasing big users. ...
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retro round bed – Google News
