Facebook Buys Instagram for $1Billion; Instagram New Update Adds Android Tab Support

Discussion in 'Android News' started by dgstorm, Apr 9, 2012.

  1. dgstorm
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    dgstorm Editor in Chief Staff Member Premium Member

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    [​IMG]

    We have several bits of interesting news regarding Instagram today, and this is not an April Fool's Joke, just to make that perfectly clear. The first juicy morsel is a "breaking" news piece indicating that Facebook just bought Instagram for $1 Billion Dollars. In a combination of cash and stock, Facebook just brokered a deal that is expected to be finalized later this quarter after facing regulatory scrutiny.

    The second bit of news from them is that the newest 1.0.3 update they just pushed out will add Android tablet support on top of a few bug fixes. This Android tablet support is primarily visual, and makes it easier to use Instagram on the larger screen size. The update will also allow Android users to install the app to their SD card as opposed their device’s internal memory.

    The last bit of interesting news with Instagram is that they the app has already been downloaded over 5 Million times in just 4 days. Wow! No wonder Facebook saw them as a smart investment...

    Here's a quote from Mark Zuckerberg, founder and CEO of Facebook, regarding the acquisition:

    Source: GigaOm and UberGizmo
  2. johnomaz
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    johnomaz Silver Member

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    Meh, I removed it from my phone already. I don't use any social website anymore and I have other apps that can apply filters to my photos. Hope it works out for both companies in the coming months.
  3. jacestone40
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    jacestone40 Member

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    is that a good thing or a bad thing I'm really not fond of waste book period
  4. wicked
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    wicked DF Administrator Staff Member Premium Member

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    Instagram team when they got the 1 Billion offer:

    [​IMG]
  5. OneTenderRebel
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    OneTenderRebel Silver Member

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    hahaha exactly my thoughts. Can you imagine developing an app and within a year or two you are able to sell it for 1 BILLION freaking dollars. Not million, BILLION!!!! That's like many many millions.
  6. OneTenderRebel
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    OneTenderRebel Silver Member

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    In other context, Instagram is worth as much and more than many pro sports franchises.
  7. jkhonea
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    jkhonea DF Super Moderator

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    At least Instagram is potentially worth the money, unlike most sports franchises. ROFL
  8. wicked
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    wicked DF Administrator Staff Member Premium Member

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    Google purchased YouTube for 1.65 Billion in 2006... comparing the 2 deals, makes you feel that Google got a bargain doesn't it?
  9. saintlikesniper
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    saintlikesniper Member

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    How in the hell does Farmville cityville and any other ville get that much money. Somebody explain how a free social networking sites gets that much money

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  10. FoxKat
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    FoxKat Resident Novelist...LOL! Staff Member Premium Member

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    it's all about traffic and potential for huge advertising incomes

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  11. Josefius
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    Josefius Member

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    I did the same thing, I deleted my FB account permanently last year as well.

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  12. meishkov
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    meishkov Member

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    Quite simple. You tell them everything they want to know about you, and in return they sell that information to advertising soliciting and marketing companies. Who then in turn have targeted ads directed towards you. Not a bad business model for the guys who figured it out, not my style tho. Just seems too down right sleazy for my taste.

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  13. djsiva
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    djsiva Active Member

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    Don't forget that Zynga and these other companies actually take in real cash too. People pay with REAL money to buy fake Farmville/Cityville/etc. money, coins, houses, etc.