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Posted in music | technology on April 9, 2012

Facebook buying Instagram for $1 billion...

Har Mar Superstar (as seen on the BVAustin Instagram account)
Har Mar

Facebook has agreed to buy photo sharing network Instagram for $1 billion in a combination of cash and stock, the company announced Monday.

It's Facebook's biggest acquisition ever, in both price and reach. With around 30 million active users, Instagram has the largest audience of any startup Facebook has purchased, Facebook CEO Mark Zuckerberg said in a blog post.

"We don't plan on doing many more of these, if any at all," Zuckerberg wrote. "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."

Founded in 2010 by Mike Krieger and Kevin Systrom, Instagram has just a handful of employees supporting its wildly popular photo app, which lets users add distinctive filters and visual flair to photos they've snapped on their smartphones.

The long-awaited Android version, released last week, racked up more than 1 million downloads in just 12 hours. The launch also met a backlash from iPhone users, who enjoyed having an exclusive hold on the stylish service. [CNN]

Dat's a lot of money!

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Tags: Facebook, Instagram
posted at 2:52 PM on April 9, 2012 in music | technology | Comments (56)

Comments (56)

Chandler >>>>> Noah

YTINASNIL LIVES

Posted by Anonymous | April 9, 2012 2:55 PM

Music?

Posted by Anonymous | April 9, 2012 2:57 PM

$1B for a photo sharing app with hipster filters? And they say there is no bubble....

Posted by Anonymous | April 9, 2012 3:05 PM

Retardamundo!

Posted by Anonymous | April 9, 2012 3:05 PM

Yeah 3:05, as if you have any comprehension of how a business actually operates. Please give shed some insight to Zuckerberg....I'm sure he'd love to hear your opinion.

Posted by Anonymous | April 9, 2012 3:08 PM

@3:05 i wonder what photo filters would be considered UNhipster....

Posted by Anonymous | April 9, 2012 3:09 PM

Har Mar got (extra) fat

Posted by Anonymous | April 9, 2012 3:12 PM

Zuckerberg isn't a businessman, he's a nerd. Nerds don't know the first thing about how to be successful, other smart people have to guide them.

Posted by Anonymous | April 9, 2012 3:12 PM

^ You are a tool. Funny though to watch poor hipsters crack wise about Zuckerberg. Yeah while you are sitting in your flea bag apt commenting, he is enjoying a life you will never have but only dream you could. I am sure he is truly hurt by your words. Idiot.

Also, note to you oh so smart commenters, maybe if you spent less time making unintelligent responses you could come up with a simple app like these 2 guys and make a billion.

Posted by Anonymous | April 9, 2012 3:16 PM

"Zuckerberg isn't a businessman, he's a nerd. Nerds don't know the first thing about how to be successful, other smart people have to guide them."

i just LOL'd

Posted by Anonymous | April 9, 2012 3:17 PM

3:12 needs have a large, large rock chained to his feet and thrown in the sea...

Quite possibly, the dumbest comment I've ever read on this site..

Posted by Anonymous | April 9, 2012 3:22 PM

Can BV please, please set up an interview with 3:12 pronto! I, and I'm sure we all would love to hear more of this wisdom...

Posted by Anonymous | April 9, 2012 3:24 PM

Damn, all those times at Glasslands/Market Hotel/DBA etc when I said to my friends how great it would be to have a photo app that had different filters and we should make it.


OH WELL, at least the Dirty Projectors are coming out with a new record.

Posted by Anonymous | April 9, 2012 3:29 PM

"Zuckerberg isn't a businessman, he's a nerd. Nerds don't know the first thing about how to be successful, other smart people have to guide them."

3:12 - Did your parents have any kids that they're not horribly ashamed of?

Posted by Anonymous | April 9, 2012 3:33 PM

"Zuckerberg isn't a businessman, he's a nerd. Nerds don't know the first thing about how to be successful, other smart people have to guide them."

Zuckerberg is a nerd + nerds don't know the first thing about to be successful = Zuckerberg is the richest/most successful man alive at his age.

I died laughing. I want to meet you, sir. You, my child, are a gift to the world.

Posted by Anonymous | April 9, 2012 3:36 PM

3:12

You'll be head barista at Starbucks in no time. Don't you worry.

Posted by Anonymous | April 9, 2012 3:38 PM

haha wuts this doing here, i already saw it on my wsj feed. uhhh...music....?? vegetablerianism...??

Posted by Anonymous | April 9, 2012 3:40 PM

Sabra is worth way over 1 billion. He should have got that.

Posted by Anonymous | April 9, 2012 3:43 PM

Facebook is mostly for Narcissitic people who have self esteem issues and have a need to feel loved by virtual friends.
Real men don't use facebook.

Posted by Anonymous | April 9, 2012 3:46 PM

Facebook is soon to go the way of Friendster and Myspace, and all those hours you spend on it each day will be wasted.
Why don't you facebookers do something more productive with your time and knit a sweater or invent new and exciting hummus recipes.

Posted by Anonymous | April 9, 2012 3:49 PM

3:46 and 3:49 are the same person. Is a substitute teacher at Nassau Community College. Teaches English. Likes to write. Lives with his parents.

Posted by Anonymous | April 9, 2012 3:52 PM

Thank you for keeping the dream alive, 2:55. Was busy eating a freshly prepared skirt steak with chimichurri sauce and coconut oil fried plantains (all freshly made by me).

The crew is stronger than ever.

YTINASNIL LIVES

Posted by Anonymous | April 9, 2012 3:53 PM

3:52 spends a minimum of two hours per day on facebook and sleeps well because his friend count is now over 300 people.

Posted by Anonymous | April 9, 2012 3:56 PM

3:49, 3:52, 3:56 is now upset and realizes being a substitute is never going to get him out of his parents house.

Posted by Anonymous | April 9, 2012 3:57 PM

A lot of zuckerberg fanboys in here. Kind of surprising.

Posted by Anonymous | April 9, 2012 3:58 PM

3:57 is really trying to defend his habitual facebook addiction.

Posted by Anonymous | April 9, 2012 4:00 PM

So I'm now 3 people? YTINASNIL GUY IS AFFILIATED WITH NO ONE, EXCEPT THE YTINASNIL POSSE - and we do not waste time dissecting Facebook and their lateral business moves.

And are you saying that I'm a substitute teacher? I could only dream of climbing the ladder to such a high rung.

Parents' "house?" We share a studio bungalow?

Posted by 3:56 aka YTINASNIL Guy aka Thunder from Down Under | April 9, 2012 4:01 PM

YTINASNIL guy apologizes. I was 3:53, not 3:56. Statement retracted.

Posted by 3:56 aka YTINASNIL Guy aka Thunder from Down Under | April 9, 2012 4:04 PM

One simple fact remains, facebook is simply a tool by big brother and law enforcement to track you and everybody you know.

Posted by Anonymous | April 9, 2012 4:10 PM

4:01 is definitley not making 75K a year.

Sad.

Posted by Anonymous | April 9, 2012 4:21 PM

I can assure you, I am DEFINITELY NOT making 75k per year.

Posted by 4:01 aka YTINASNIL | April 9, 2012 4:29 PM

PS- YTINASNIL LIVES

Posted by 4:01 aka YTINASNIL | April 9, 2012 4:40 PM

I don't see what any of this has to do with Jon Lovitz.

Posted by Anonymous | April 9, 2012 4:48 PM

The point was that Lovitz makes more than 75k

Posted by Anonymous | April 9, 2012 4:50 PM

" The launch also met a backlash from iPhone users, who enjoyed having an exclusive hold on the stylish service. "
I love this part! Haha exclusive??? How many people own iphones??? I'm a Mac person, but I like my android phone better. Iphone people are fucking retarded.

Posted by Anonymous | April 9, 2012 5:01 PM

i can not live without facebook

Posted by Anonymous | April 9, 2012 5:29 PM

if no one posted a pic of it on facebook- did it really happen?

Posted by Anonymous | April 9, 2012 5:30 PM

Facebook is for women and gay men. If you're a straight man or a lesbian you need to get off facebook, it's not a good look.

Posted by Anonymous | April 9, 2012 5:37 PM

INSTAYANN

Posted by Anonymous | April 9, 2012 6:43 PM

I could see the value in integrating Instagram into the "Facebook experience", but 1 billion dollars does seem excessive.. but hey what do I know? I didn't make a few billion in my 20s, so I would have to assume that Zuckerberg knows a little about what he's doing.

Posted by Anonymous | April 9, 2012 7:01 PM

3:43 Trader Joe's Hummus>Sabra

Posted by Anonymous | April 9, 2012 7:08 PM

5:37, who are you kidding. You're all on Facebook. ALL OF YOU!! You're stalking your ex-gf to see who she's banging right now. You're posting wastey-face drunk-ass pictures of yourself from Saturday. You're a lyin' ass mofo if you say you're not.

Posted by Anonymous | April 9, 2012 7:09 PM

^nope, sorry really not on Facebook. Wasn't on Myspace or Friendster either.I stand by my position. Facebook is for women & gay men.

Posted by Anonymous | April 9, 2012 7:23 PM

3:43 Trader Joe's Hummus>Sabra

Posted by Anonymous | April 9, 2012 7:25 PM

@723 just read what you wrote. that is all.

Posted by Anonymous | April 9, 2012 7:30 PM

Pitchfork buying BV for 100 million.

Posted by Anonymous | April 9, 2012 7:35 PM

New to the site. What is the hummus joke?

Posted by Anonymous | April 9, 2012 8:06 PM

This is great! Now all my cool friends can see my iPhone 5 concert photos on Facebook! (I just use the default settings)

Posted by Jared | April 9, 2012 8:52 PM

I wish Sean Na Na would get back together. :(

Posted by Anonymous | April 9, 2012 9:21 PM

Never mind this facebook nonsense.
Axl is banging LDR!

Posted by Anonymous | April 9, 2012 9:28 PM

Yo suck Mark Zuckerberg's dick some more.

LOL @ you people defending him as if he gives two fucks about you when he doesn't.

Posted by D | April 10, 2012 1:48 AM

3:52 ftw

Posted by Anonymous | April 10, 2012 8:21 AM

Film>instagram

Posted by Freepster | April 10, 2012 11:56 AM

Instagram has more than 1 million users and this apps is very useful in facebook yet facebook were not the first to recognize this idea were not able to realize how important this idea to their existing application. So buying it is no brainer for them and one billion dollars is just only a coin compared to what the effect the instagram will bring to the facebook users.

Posted by Specs | April 16, 2012 2:41 AM

Instagram has more than 1 million users and this apps is very useful in facebook yet facebook were not the first to recognize this idea were not able to realize how important this idea to their existing application. So buying it is no brainer for them and one billion dollars is just only a coin compared to what the effect the instagram will bring to the facebook users.

Posted by wdyan | May 30, 2012 11:33 AM

for those looking for a good music I Rece much money speaks the truth?!

Posted by Acompanhantes Brasilia | April 23, 2013 9:13 PM

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