Instagram and Facebook
Well, the inevitable has happened. Instagram has been acquired. By who? Facebook. For how much? Reportedly $1 billion. Am I surprised? No. I’m I glad? Not sure.
Every day that passes, we see more experiences being shared through Instagram in ways that we never thought possible. It’s because of our dedicated and talented team that we’ve gotten this far, and with the support and cross-pollination of ideas and talent at a place like Facebook, we hope to create an even more exciting future for Instagram and Facebook alike.
Before today’s acquisition, Facebook’s last purchase was Gowalla. It no longer exists. I believe this was the first fear that popped into the minds of many as they began to see the headline “Facebook Acquires Instagram” make its way through their Twitter stream. I also believe CEO Kevin Systrom thought the same, hence this statement.
It’s important to be clear that Instagram is not going away. We’ll be working with Facebook to evolve Instagram and build the network.
Heh. Instagram is completely worth the $1 billion, if not, more. Yet, it’s beyond me why, as of late, applications feel the need to be acquired. Then again…
Nevertheless, congrats to you, Kevin, and best wishes – seriously.