Instagram and Facebook : A love story begins at $1billion

Facebook likes photo sharing app Instagram. A lot. So much that Facebook acquired it for $1billion.

In a post on Instagram’s official blog, co-founder and CEO Kevin Systrom says the company is “psyched” to join Facebook.

“We believe these are different experiences that complement each other,” says Facebook CEO Mark Zuckerberg in a statement. “But in order to do this well, we need to be mindful about keeping and building on Instagram’s strengths and features rather than just trying to integrate everything into Facebook.”

“Every day that passes, we see more experiences being shared through Instagram in ways that we never thought possible,” says Kevin Systrom. “It’s because of our dedicated and talented team that we’ve gotten this far, and with the support and cross-pollination of ideas and talent at a place like Facebook, we hope to create an even more exciting future for Instagram and Facebook alike.”

Systrom also assured users the popular app won’t disappear once under the social network. “We’ll be working with Facebook to evolve Instagram and build the network. We’ll continue to add new features to the product and find new ways to create a better mobile photos experience,” he says.

This was my interview with Kevin, while over at SXSW this year… No indication then, and if anything I would have never thought that was on the card.

 This is the first major acquisition for Facebook since its initial public offering. The social network’s IPO values the company at $75-$100 billion.

Instagram continues its incredible momentum since its debut in 2010 on Apple’s iOS mobile platform. More than 30 million users of Apple devices have downloaded the app, and it crossed the 1 million download mark one week after debuting on Google’s Android operating system.

The app allows users to take images and apply special filters to give them a fresh look. They can then share those images through several social networks such as Facebook, Twitter and Tumblr.

Since launching nearly a year and a half ago, users have uploaded more than 1 billion photos, which amounts to roughly 5 million a day.

“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,” says Zuckerberg. “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.”

2 thoughts on “Instagram and Facebook : A love story begins at $1billion

  1. […] Instagram and Facebook: A Love Story Begins at $1Billion (Delphine Remy Boutang) […]

  2. rsmithing says:

    Hi Delphine – I discovered your post in doing some research for my own take on the Instagram acquisition. Very cool of Kevin to say, “bonjour” to your viewers! I link to your post at: Instagram alternatives and would love to know your perspective in the comments if you would like to share. Thanks!

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