The world’s most popular social networking site, Facebook, is now out to acquire Instagram and has just completed the deal with a compensation of around $1 billion in stock and cash. Mark Zuckerberg posted a letter on his timeline letting the world know that Facebook is acquiring the photo-sharing app to enhance its own picture sharing features and build on Instagrams strengths. He said Instagram would be allowed to grow and build independently, none of its great features would be taken away or changed as a result of this acquisition.
We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.
The standalone photo-sharing up was gaining quite a large amount of fans itself, people had started using Instagram to share photos with the people of their interest instead of using Facebook’s integrated mobile apps. Thus it was becoming more of potential competitor to the social networking giant with its own user base of around 50 million registered iOS users and Facebook took out this gaining competitor cleverly with the help of this acquisition and automatically added its built in community of photographers and photo aficionados to its own network.