It’s only been a month and a half since we reported here at Canoe Tech Blog about Facebook’s announcing its intentions to acquire Instagram for a hefty $1 billion. Instagram is a free mobile camera app that allows you to quickly select take, edit and share photos quickly and easily. At the time, they said that they would keep Instagram operating as a separate entity. So why is it that today they released their own branded app, Facebook Camera (for iOS devices) which could be viewed as a direct competitor?
Posts Tagged ‘Instagram’
Facebook acquires Instagram for $1 Billion
“One Billion Dollars,” is the kind of thing you’d hear from the lips of Dr. Evil from an Austin Powers movie. But today for the folks over at Instagram, Facebook founder and CEO Mark Zuckerberg sounds more like the Easter Bunny than an evil-doer on this holiday Monday, as he announced that Facebook will be buying Instagram for the tune of approximately that same amount – $1 billion. And that’s a lot of eggs.
