Facebook Sees Instagram Purchase Through With Finality-ssdao

Internet-and-Business-Online Facebook finally closes the deal on its biggest acquisition. Valued at one billion dollars but finished at around seven hundred million dollars, Instagram is now part of the Facebook family. Social networking giant Facebook has just recently announced its closure of the Instagram deal, which was previously valued at one billion dollars before the social networking giant much-anticipated IPO. However, recent devaluations of Facebook stock price have shrunk the value of the deal to about 735 million dollars, which is equivalent to 300 million dollars cash and 23 million shares. Not bad for an app that is totally mobile based. Even though the entire deal was no longer as big as it was when it was first announced, it is still the biggest acquisition for the social media powerhouse. What is Instagram? With thousands of apps jockeying the attention of users, the dizzying success of Instagram has caught the eye of the world biggest social networking site. Instagram is the widely used popular photo sharing application that dazzled millions of users all over the world to share and upload their personal pictures using different filters giving it a vintage, weathered look. The Instagram application basically markets itself as a fun casual way of sharing pictures and interacting with others through social media. How does it Work? Basically the app is a picture-taking program that users can install on their Smartphones. They then choose from a number of filters to give their pictures a unique look. They can then place a caption and instantly share it with other friends who use social media like Facebook and Twitter. The Instagram experience is unique because it allows users to make a story out of their everyday experiences using pictures. Like many in the social media sphere, Instagram also uses the hashtag feature. This basically allows users to create a short text description of their pictures to make a tag for users to search online. FTC Green Light Before the merger came true, the Federal Trade .mission had to investigate both .panies to check if they were stunting healthy .petition from similar programs. This was not the case and the merger was given the green light to push through. According to Mike Schroepfer, the VP of Engineering for Facebook, they will continue to develop the program independently but would now have the big advantage of utilizing Facebook vast engineering infrastructure. Instagram responded that they too were very excited to work in the offices of Facebook and reassured their loyal following that they will continue to put improvements on the application in order to make it a continually evolving user experience. In less than a couple of years, Instagram exploded on the mobile apps scene raking in eighty million users. This immense success has kept it pretty much in the radar of Facebook under the guidance of its founder and CEO Mark Zuckerberg to look for .panies that have incredible potential. This was very much in line with Facebook attempt to secure its place in the mobile application wars as well as safeguard its own photo sharing features from its biggest rival Instagram by making it a part of its own .pany. Instagram also holds the record for the quickest app to reach one and a half million downloads. By June of 2011 the .pany announced that it had gained five million more users. Apple Inc. named it as Application of the Year in 2011. Famous celebrities, politicians and clothing designers have all created their own account on the app. About the Author: 相关的主题文章: