Facebook Shells Out Major $$$ For Instagram

It was bound to happen and now it’s official. Facebook is acquiring the super popular Instagram for a reported $1 billion made out of a combination of cash and shares. YOWZA. I guess Facebook finally realized that no one was using their photo upload function anymore despite all the upgrades. It’s all about those fancy special effect filters, don’t cha know.

Last week, fans of the iPhone app were enraged that it was now available to Android users. Now, that same legion of loyalists are in an uproar that their beloved Instagram is being devoured by “the social network“. Even though Zuckerberg states that they are “committed to building and growing Instagram independently rather than just trying to integrate everything into Facebook.”, many people aren’t buying it.

To be fair, it’s hard to imagine a company that had about a dozen or so workers will be the same now that it’s part of the huge umbrella known as FB. While the functionality probably won’t change, I’m sure the ideology that created the cool app might. Oh, well. Que sera sera.

“For years, we’ve focused on building the best experience for sharing photos with your friends and family. Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.” – Mark Zuckerberg

While I’m a huge fan/user of Instagram, I’m completely shocked that Facebook thought it was worth almost $1 billion. Sure, Instagram has over 30 million users worldwide and counting, but isn’t Instagram susceptible to other photo app upstarts stealing its thunder by coming up with something cooler and better? What do you think of FB’s move? Smart financial move or simply making an aggressive defense play. Sound off below.