Facebook spends $1 billion on photo sharing app Instagram

by | Apr 11, 2012 | General News, Latest News, Social Media News

Facebook have splashed out £1 billion (£629 million) in buying photo sharing app, Instagram. The photo software allows smartphone users to place filters on the snaps they take to create specialised effects, and then share the altered image online.

The acquisition of Instagram by Facebook marks the largest buy out of another company or product in the history of the social network. The deal between Facebook and Instagram was announced just days after the application launched a new version for use on Android devices. Instagram attracted an extra 5 million users in just six days after first launching the Android app.

Facebook say they plan to run Instagram independently, allowing users to post images from the app of other social networks and the ability to have followers, and follow users. outside of their circle of friends on Facebook.

Instagram users can utilise a range of filters to give special effects to the snaps they take using their phone. Users can transform their pics to look like Polaroid’s, or give their images a 70’s makeover with use of lens flare, or a saturated colour effect for a vintage look. In total there are 11 different photo effects available to Instagram users.

The photo sharing software was first launched in March 2010 and by the end of the year Instagram had attracted a million users. However the app’s popularity really took off the following year, with Instagram reaching 30 million users in just 15 months.


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