Facebook buys Instagram for $1 Bllion in Cash and Stock

Only a week after finally arriving on Android, Instagram has sold out to Facebook. The price, according to a press release: $1 billion in cash and Facebook stock.

Facebook's Mark Zuckerberg, on his time line, says that it's more than just absorbing Instagram into the Collective. "We believe these are different experiences that complement each other," he wrote. "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."

For its part, Instagram says it's business as usual. "It’s important to be clear that Instagram is not going away," CEO Kevin Systrom said. "We’ll 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."

So we'll have to see exactly what happens. As far as Android's concerned, it's more about the service than the app. The app itself isn't all that great. The filters have been around in other apps for some time. (On the other hand, Facebook's Android app is notoriously bad, too.)

And until Instagram gets its act together and works on more Android smartphones, it's going to remain a non-starter for many. Circle Kickedface on Google+

Source: Instagram; Facebook