Instagram filters... soon to be Facebook filters.

Of the things that Facebook does well, mobile photo sharing is not one of them.  Facebook is great at bringing in money and attracting users, but their mobile photo sharing apps are not exactly the best.  Fortunately, Facebook has a philosophy:  if you can’t build it, buy it.  Enter Instagram, the most popular photo-sharing and photo-taking app in the world.  Facebook has spent a staggering $1 billion to purchase Instagram.

“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,” said Facebook CEO Mark Zuckerberg, who promises that Instagram will remain an independent company rather than being folded into Facebook itself.  “We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience.”

The rumored price of $1 billion seems like a lot, but Facebook is a company that may be worth $100 billion dollars, so I am sure they have the money.  Besides, buying Instagram adds value to their core social networking business, thanks to Instagram’s 30-million-strong user base spread out across multiple social networks.

Tags: facebook, instagram, facebook to buy instagram, facebook to buy instagram for

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