A business relationship that began in 2004 between Mark Zuckerberg and Kevin Systrom has ended in a marriage: Facebook has agreed to acquire mobile photo service Instagram for $1 billion. According to CEO Mark Zuckerberg, “This is an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users. We don’t plan on doing many more of these, if any at all.” Facebook also stated that the two services would remain separate. The Instagram acquisition was made just days after Instagram launched a massively popular Android app.
collections
NewsletterCourses and LearningAdvertiseCurrent IssueTech Forecast
What’s next for hardware, software, and services
Most Innovative Companies
Our annual guide to the businesses that matter the most
Most Creative People
Leaders who are shaping the future of business in creative ways
World Changing Ideas
New workplaces, new food sources, new medicine--even an entirely new economic system
Innovation By Design
Celebrating the best ideas in business
Follow us:
