Facebook buying Instagram for $1B
SAN FRANCISCO – Facebook has agreed to buy the hugely popular photo-sharing app maker Instagram for about $1 billion in cash and stock in a blockbuster deal reverberating around Silicon Valley.
It's about the only thing that could top Justin Bieber on Instagram.
Facebook's chief executive and founder made the announcement Monday on Facebook in a post that has already generated tens of thousands of likes. He has pledged to allow Instagram to remain independent.
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