Facebook’s Mark Zuckerberg just
announced that the social network has acquired photo-sharing app “Instagram” for $1 billion. Instagram’s CEO Kevin Systrom also made
a statement through the company’s blog and confirmed it will “be working with Facebook to evolve Instagram and build the network.”
Zuckerberg’s full announcement is below, and Facebook’s official press release is
here:
I’m excited to share the news that we’ve agreed to acquire Instagram and that their talented team will be joining Facebook.
For
years, we’ve focused on building the best experience for sharing photos
with your friends and family. Now, we’ll be able to work even more
closely with the Instagram team to also offer the best experiences for
sharing beautiful mobile photos with people based on your interests.
We
believe these are different experiences that complement each other. 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.
We
think the fact that Instagram is connected to other services beyond
Facebook is an important part of the experience. We plan on keeping
features like the ability to post to other social networks, the ability
to not share your Instagrams on Facebook if you want, and the ability to
have followers and follow people separately from your friends on
Facebook.
These
and many other features are important parts of the Instagram experience
and we understand that. We will try to learn from Instagram’s
experience to build similar features into our other products. At the
same time, we will try to help Instagram continue to grow by using
Facebook’s strong engineering team and infrastructure.
This
is an important milestone for Facebook because it’s the first time
we’ve ever acquired a product and company with so many users. We don’t
plan on doing many more of these, if any at all. But providing the best
photo sharing experience is one reason why so many people love Facebook
and we knew it would be worth bringing these two companies together.
We’re
looking forward to working with the Instagram team and to all of the
great new experiences we’re going to be able to build together.