It’s been a long time coming, but Facebook’s purchase of Instagram is finally a done deal — both companies just announced the finalized partnership on their respective blogs. Additionally, Instagram revealed that users have now shared over five billion photos. This finalized purchase comes a few weeks after the FTC closed its investigation into the deal, and less than a week since the state of California finished a “fairness hearing” on the proposed deal.
Facebook’s Instagram purchase finally complete, over 5 billion photos shared to date
It’s been a long time coming, but Facebook’s purchase of Instagram is finally a done deal — both companies just announced the finalized partnership on their respective blogs.
It’s been a long time coming, but Facebook’s purchase of Instagram is finally a done deal — both companies just announced the finalized partnership on their respective blogs.
Due to the fact that Facebook’s stock has dropped since the deal was originally announced, the value of the purchase is below the $1 billion that was originally reported — we don’t know the final purchase price yet, but last week it was estimated to be about $750 million. This caps a big year for Instagram, which finally released an Android app and saw its userbase double in just four months.
Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.
