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Facebook purchases Instagram for $1 billion

Published: Apr 10, 2012 - 6:26am

Agence France-Presse (AFP), via ABS-CBNNews.com, reports that Facebook announced on Monday, April 9 that "it had reached an agreement to acquire Instagram, describing it as 'a fun, popular photo-sharing app for mobile devices,' for $1 billion in cash and shares."

 

The report noted that Facebook has "more than 845 million users, [of which] 483 million who log in daily." The company has an estimated value of $75 billion to $100 billion.

 

For more on this story, read the AFP article in ABS-CBNNews.com.

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  • ***usisero*** Apr 11 2012 @ 12:12pm Reply Report Abuse
       
    sisikat na naman ang fb, marami na namang kung ano ano ang mangyayari dito, hindi kaya lampasan pa nito ang popularity ni twitter. Ito ang modern medium used in fighting, hahaha! isa itong arena, kung saan nag aaway ang mga tao
  • tambay sa kanto Apr 11 2012 @ 11:47am Reply Report Abuse
       
    @ Richie,
    tama ka dyan. maraming mga mag asawa ang mabubuking sa pag upload ng pictures pa lang. maraming mag sweetheart ang ma-tempt at mag away hahaha! ingat ingat.
    Pero alam naman natin na tayong lahat ang nagbibigay ng power sa mga social networking sites na ito. Dapat lang be responsible hahaha!
  • Richie Apr 11 2012 @ 11:44am Reply Report Abuse
       
    This is not a good news to me, facebook will enhance itself therefore, a lot of irresponsible posts will rule and therefore, expect a lot of trouble too hehehe!
  • sharmaine Apr 10 2012 @ 05:50pm Reply Report Abuse
       
    and one day, facebook will rule the whole world. how scary.
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