Mark “La Honda” Zuckerberg said on his Defacebook page that Facebook has paid $1 billion in greenbacks for Instagram.
The first of very few acquisitions
Instagram is a photo sharing web outfit that lets you share your snaps with Twitter and Tumblr, and you can get it on the Apple app store and for Android phones as well. It's free.
The founders include CEO Kevin Systrom – who worked for two years at Google.
Zuckerberg said in his blog, sorry on his Defacebook Timeline, that it will try and keep Instagram as a separate brand, although he said Facebook wants to build similar features too.
Zuckerberg also said Facebook would buy other companies – but not “many more of these, if any at all”.
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