Not even a week after it’s long awaited Android debut, it looks like Instagram is set to be bought by Facebook. CEO Mark Zuckerberg announced that an agreement has been made for a huge $1 billion in cash and shares that will see Facebook acquire the service pending the standard regulatory approvals.
Both companies are claiming that Instagram will stay as a separately running service with no plans to ‘swallow’ the features up into the social network site.
From Mark Zuckerberg’s blog: “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.” Instagram CEO Kevin Systrom also released a statement via his blog “The service is not going away. The Instagram app will be the same one you know and love”
It will definitely be interesting to see what the guys and gals at Facebook have planned for Instagram and how they utilise it in the long term. Here’s hoping whatever they do they manage to do a better job than the ever so slightly buggy Facebook app on Android.