Facebook to buy Instagram for $1 billion

Thomas Houston, for The Verge:

Mark Zuckerberg took to Facebook today to announce that Facebook has agreed to acquire photo-sharing service Instagram for $1 billion in “a combination of cash and shares of Facebook.” The entire Instagram team — 6 employees — will be joining Facebook, and interestingly, Zuckerberg says that Instagram will be built and grown “independently” and that its integration with other services is an “important part of the experience.”

1,000,000,000 / 6 = Holy crapballs on spaghetti, Batman.



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