1 Billion dollars? With a B?
http://finance.yahoo.com/news/instagram-sale-to-facebook-makes-waves-on-the-web.html
Picture this: Facebook is the proud new owner of Instagram, the photo-sharing mobile app. Cost of the acquisition? A cool $1 billion. News of the purchase immediately sent the web into overdrive, launching the company into a trending topic on Twitter and causing a frenzy of searches on the social site.
The picture-taking application that is barely two years old allows users to choose various artsy filters on the snaps taken with their smartphones. Predictably, loyal followers of the photo-sharing tool took to Twitter to voice their shock at the sale.
For a free photo sharing app? I got some mars land for sale for Zuckinburg.
As some of the comments said.
“Kodak is going bankrupt and Instagram sold for a billion dollars. Wow, what is the world coming to?” The Wall Street Journal’s Dennis K. Berman tweeted: “Remember this day. 551-day-old Instagram is worth $1 billion. 116-year-old New York Times Co.: $967 million.”
Zuckerberg bought Instagram because a girl didn’t let him take her picture once.” Brent Black added, “Makes me wish I’d thought of cropping pictures into a square and applying Photoshop filters from 1998.”
"Mark Zuckerberg just bought instagram for $1,000,000,000?.. He could’ve just downloaded the free app.”
This is baffling.
The only possible clue is that the two owners have had a previous relationship dating back to mid 2000’s and it might have been a strategic move or payment for other unmentioned things as well.
Who wants to make a Catogram app? Take pictures of cats and instantly turn them into lol cats. :rofl