Facebook to Buy Instagram
By: Leon Castles
on Monday, April 09, 2012
There is a lot happening in Cleveland and in a recent announcement to the media, Facebook said that they are going to purchase photo share app Instagram that will be based in Cleveland. The company said that they will purchase the company for $1 billion and that this will make Facebook better in the future. The company feels that this will be a great deal because there are many Facebook fans that love to upload and share their pictures on Facebook.
Sharing more information about the app, Facebook said that with the help of this app people will be able to apply filters to the pictures that they are uploading. This means that people will be able to customize and add more fun to the pictures before they upload it. Some of the features of this app will make the pictures look like it was taken three to four decades ago and that will attract more people on the Facebook. The company said that although they will buy the company they will let it run independently because they just want to use the features on their social networking site to compete with rivals like Twitter. Facebook said that the payment will be done in cash and various Facebook stocks