Facebook to buy Instagram for $1B - Newsday

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Facebook to buy Instagram for $1B - Newsday Apr 9th 2012, 18:33 Content Preview Newsday 7 day/Optimum Online® subscribers click here for full access Not a Newsday or Optimum Online® subscriber? Click here Published: April 9, 2012 2:27 PM By REUTERS Photo credit: Getty Images | This is an Instagram photo of the Facebook website on an Apple iPhone. Facebook Inc. is acquiring photo-sharing app Instagram for about $1 billion. (April 9, 2012) SAN FRANCISCO -- Facebook will pay $1 billion in cash and stock for photo-sharing application Instagram, making its largest-ever acquisition months before the No. 1 social media website is expected to go public. The popular Instagram application, which allows users to add filters and effects to pictures taken on their smartphones, has gained about 30 million users since it first launched in... Newsday & ExploreLI are now available at no charge to Newsday 7-day and Optimum Online® subscribers. To continue reading, please log in or register now. Already registered on newsday.com? Log in Newsday 7-day or Optimum Online® subscriber? Get access Not a Newsday 7-day or Optimum Online® subscriber? Click here 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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