Facebook acquires Instagram for $1billion

The technology world is buzzing about today’s announcement that Facebook has acquired social image sharing app Instagram for $1billion dollars.

In a recent statement  Zuckerberg promises that Instragram will not be absorbed directly into the Facebook platform:

“We believe these are different experiences that complement each other. But in order to do this well, we need to be mindful about keeping and building on Instagram’s strengths and features rather than just trying to integrate everything into Facebook…. That’s why we’re committed to building and growing Instagram independently…. We will try to learn from Instagram’s experience to build similar features into our other products.”

Interestingly, the LA times points out that the image based social sharing site has “just 13 employees. That works out to be $76 million per employee.”

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