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Facebook Buys Instagram for $1 Billion

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That is Billion, with a B! Facebook confirmed today that they are purchasing the super popular photo sharing application, Instagram. Last week Instagram launched for Android making it even more popular than before; previous to that only iPhone users were able to use the photo sharing service. News outlets all over the Internet are reporting on this huge story, which mergers two social media giants, or as some see it, Facebook purchasing a rival social media channel. For more on this topic, interesting articles include:

[URL="http://www.latimes.com/business/technology/la-fi-tn-why-facebook-bought-instagram20120409,0,7157117.story"]Why Facebook bought Instagram on the way to its $100-billion IPO[/URL] - LA Times

[URL="http://www.businessinsider.com/facebook-buys-instagram-2012-4"]Facebook Buys Instagram for $1 Billion[/URL] - Business Week

[URL="http://techcrunch.com/2012/04/09/facebook-to-acquire-instagram-for-1-billion/"]Facebook Buys Instagram For $1 Billion, Turns Budding Rival Into Its Standalone Photo App[/URL] - Tech Crunch

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