SEO News: Facebook Buys Instagram – $1 billion, anyone?
News sent the online world into overdrive this week as Facebook – the world’s largest social networking site – bought Instagram – a popular photo sharing app – for a whopping $1bn!
It seems like a likely match too, with Facebook being mostly about – and Instagram being ALL about – sharing photos online.
Mark Zuckerberg, CEO of Facebook, announced on his company blog the following:
“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. But providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.”
Maybe the guys at Facebook got a little scared when Instagram became a much stronger competitor when they launched on Android phones with their mobile app and grew their customer base at almost record-breaking speeds.
With this move they might as well have pushed Facebook aside, treading on their toes on the mobile photo-sharing side of the huge social network.
So did Facebook buy them out to remove the competition? Or did they just get a good deal and acquire 30 million users for just a few dollars each? Who knows, but the news didn’t go down at all well with some of the tweets that have been gracing our screens here at Creare.