Facebook Buys Instagram for $1 Billion


Long live Facebookstagram!

If the Android release wasn’t enough, mobile photo community Instagram and its team of thirteen employees is to be acquired by Facebook for $1 billion dollars.

Days ago, Instagram closed a $50 million Series B round from Sequoia, Thrive Capital, Greylock and Benchmark at a $500 million valuation. The investors literally doubled their money overnight.

Facebook isn’t well known for keeping the services it purchases the same. No they are not. Instagram CEO Kevin Systrom promises nothing will change, nothing but having piles and piles of money to play in and occasionally use to benefit the service. Zuck also claims Instagram will be kept independent of direct Facebook control. Be that as it may, the to are now inexorably linked. A change is gonna come.

If Facebook is your first love, be super thrilled. All the Instagram goodness will be packaged up for you and served on a gilded platter crusted with the finest Facebook jewels.

If Instagram is your fancy (such as it is mine) you may be wary of this massive business transaction. Instagram exists in its own little world filled with other wonderful Instagrammers. It’s a closed garden of square filtered photos. It’s a world that doesn’t belong on the wide open platform Facebook is notorious for.

Everything about this deal is insane.

Developing


From Mark Zuckerberg:

I’m excited to share the news that we’ve agreed to acquire Instagram and that their talented team will be joining Facebook.

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.

We believe these are different experiences that complement each other. But in order to do this well, we need to be mindful about keeping and building on Instagram’s strengths and features rather than just trying to integrate everything into Facebook.

That’s why we’re committed to building and growing Instagram independently. Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people.

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.

These and many other features are important parts of the Instagram experience and we understand that. We will try to learn from Instagram’s experience to build similar features into our other products. At the same time, we will try to help Instagram continue to grow by using Facebook’s strong engineering team and infrastructure.

This is an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users. We don’t plan on doing many more of these, if any at all. But providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.

We’re looking forward to working with the Instagram team and to all of the great new experiences we’re going to be able to build together.
 

From the Instagram Blog:

When Mike and I started Instagram nearly two years ago, we set out to change and improve the way the world communicates and shares. We’ve had an amazing time watching Instagram grow into a vibrant community of people from all around the globe. Today, we couldn’t be happier to announce that Instagram has agreed to be acquired by Facebook.

Every day that passes, we see more experiences being shared through Instagram in ways that we never thought possible. It’s because of our dedicated and talented team that we’ve gotten this far, and with the support and cross-pollination of ideas and talent at a place like Facebook, we hope to create an even more exciting future for Instagram and Facebook alike.

It’s important to be clear that Instagram is not going away. We’l be working with Facebook to evolve Instagram and build the network. We’ll continue to add new features to the product and find new ways to create a better mobile photos experience.

The Instagram app will still be the same one you know and love. You’ll still have all the same people you follow and that follow you.You’ll still be able to share to other social networks. And you’ll still have all the other features that make the app so fun and unique.
We’re psyched to be joining Facebook and are excited to build a better Instagram for everyone.

Best,
Kevin

CEO, Instagram


Commentary Ticker

  • Google Glass Lets You Take Photos With Your Brain
    July 12, 2014 | 4:02 pm

    If you haven’t heard, electroencephalograms (EEGs) have been getting better. Way better. Artificial limbs and even video game controllers are utilizing the non-invasive brain-wave monitoring method to guide computers by thought. Now English startup This Place has developed a way to bring the technology to Google Glass, allowing Google’s wearable to read your mind. Well, […]

  • Android Art: The Accidental Selfies of Google Art Project
    July 5, 2014 | 11:11 am

    Within the cultural centers of the world lurks a mechanical beast draped in silver spinning madly and capturing everything, sometimes even itself. In 2011 Google created the Art Project, an initiative to bring their Street View technology inside the cultural epicenters of the world. Google enlisted 17 world-class museums in short time. Institutions such as […]

  • Purple Mountunes Majesty: The Most Patriotic Playlist
    July 4, 2014 | 12:13 pm

    A while ago, Paul Lamere of The Echo Nest, a music-analysis company, took to finding each state’s most distinctive, yet popular, artist in a viral article. Spotify took note, purchasing Echo Nest for their analytical talent. Together, they’ve released a blog post documenting each state’s most distinctively American song creating a patriotic playlist for the […]

  • Emojinealogy: Where the Heck Emojis Come From
    July 2, 2014 | 3:10 pm

    On June 16th, the Unicode Consortium announced that 250 new emoji would be added to the list of symbols available to people’s cellphones and computer devices. The list of the new symbols can be found on Emojipedia. And no, the list doesn’t include the much needed minority representation, but it does include your favorite (?) […]

  • The Decline and Fall of the American Mall
    June 24, 2014 | 9:07 pm

    For ages, the shopping mall was as essential to the architecture of suburbia as Levittowns and freeways. But in an era of online shopping, these epicenters of brick and mortar yesteryear are quietly being abandoned across the country. While the U.S. currently has around 1,500, the number may soon shrink, and rapidly, leading to abandoned […]

  • RSSArchive for Commentary Ticker »

Join our mailing list!



Trending on The Airspace