Facebook Instagram Acquisition Confirmed! [Breaking!]

Facebook is acquiring Instagram! Facebook today #-Link-Snipped-# that they've reached an agreement to acquire Instagram - one of the most popular photo sharing app on mobile devices. Facebook will acquire the app maker for whooping $1 billion in a combination of cash and shares. The deal will be finalized sometime later this quarter. Mark Zuckerberg, co-founder & CEO of Facebook said that Facebook is excited to acquire Instagram and welcomes the talented team at Instagram to Facebook.



Zuck believes that both FB and Instagram offer the best possible user experience for sharing photos through mobile devices and post-acquisition, Facebook & Instagram will complement each other. He plans to keep and grow Instagram independently and hopes to take the app to even more number of people. Instagram's userbase already touches several million all over the world. This is the first time Facebook has ever acquired a product with so many users.

What say you, folks? Happy?