Tag Archives: acquire

News: Facebook to acquire Instagram for $1 billion

Facebook has announced that it has reached an agreement to acquire the popular photo-sharing app Instagram. According to the company, Facebook will pay roughly $1 billion in cash and shares of Facebook for San Francisco-based Instagram, with the transaction expected to close later this quarter, subject to customary closing conditions. Facebook founder Mark Zuckerberg has issued a statement on the matter, which appears below. “I’m excited…

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