It wasn’t very long before we announced the Instagram 1.0.3 update for its Android version and now, it seems that the multi-million dollar app will become a billion dollar application instead. This is because it seems that Mark Zuckerberg, the person behind the ever-successful Facebook has put his interest in the application. The price tag for the purchase is at a billion dollars in cash and shares.
Mark Zuckerberg has expressed the takeover on his blog and later, it was confirmed by Instagram CEO, Kevin Syntrom. Both of these are people have expressed the takeover through both the Facebook blog and the official Instagram blog as well. A lot of people have expressed their likings about this and in just 13 hours, the news had reached almost 130,000 likes by the users in Facebook.
This acquisition as stated by Zuckerberg is the first one done by Facebook although he stated that there will not be any more of those in the near future. Nonetheless, $1 billion dollars is a lot of money to spend on an application. What the future has in store for Instagram is still unknown but time will tell. Hopefully, it will result in a more creative update to the already popular application.