Facebook Purchases Instagram

Tech hipster’s everywhere let out a groan of despair earlier today as Facebook bought photo sharing service Instagram for $1 billion. Instagram came into existence two years ago with the company’s description of itself as “a fast, beautiful and fun way to share your life with friends through a series of photos.”

Facebook has had noted problems with their own photo service and the amount of ads they push on their users. Their mobile app has received heavy criticism because of multiple bugs and poor design and layout.

People that used Instagram before are worried that this purchase will ruin the app and post Instagram photos to Facebook. This is why Facebook and Instagram have announced that Instagram will continue to be independent from Facebook. But this is highly unlikely to continue for very long in my opinion. Facebook, like any other corporation has promised not to swallow the app but to only use Instagram’s features on Facebook’s own products. The following video explains some of the more corporate reasons and predictions on why Facebook bought Instagram.

It’s amazing to me that such an ‘upstart’ of a company can be sold for a billion dollars. Instagram was just 551 days old and already had a following of 30 million users. This is  by far the largest buyout of a mobile app, dwarfing the $200 million acquisition of OMGpop by Zynga a few weeks ago.

In the end, I can only hope that Facebook uses their own engineering capabilities and funding to install Instagram’s features and layout to Facebook Mobile and its own photos application.

Tweet of the day:
Pete Cashmore@mashable Many Instagram Users Already Heading for the Exits – http://on.mash.to/Huco5p