Facebook Agrees to Buy Instagram Photo Service for $1 Billion - Bloomberg

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Facebook Agrees to Buy Instagram Photo Service for $1 Billion - Bloomberg Apr 9th 2012, 17:11 Facebook Inc. (FB), the world's biggest social-networking service, agreed to buy the Instagram photo- sharing application for about $1 billion in cash and stock. The transaction is expected to close later this quarter, Menlo Park, California-based Facebook said today on its site. To contact the reporter on this story: Douglas Macmillan in San Francisco at dmacmillan3@bloomberg.net To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net Please enable JavaScript to view the comments powered by Disqus. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers. Five Filters recommends: Donate to Wikileaks.

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