Facebook has come a long way since its introduction back in 2006. Facebook has agreed to buy Instagram for approximately $1 billion in stock and cash. Facebook is buying mobile photo sharing from Instagram.
This is the first time that Facebook has acquired a product that has so many daily users. Prior to the new deal with Facebook, Instagram has raised over 8 million in Capital funding. In addition, Facebook will be working closely with Instagram over the next few months to build a strong and lasting network.
Facebook will continually be adding new features to the new project that will create better and more colorful photos. In addition, the goal of the new project is to build the best possible experience for sharing photos with close friends as well as family members.
The new project with Facebook will give Instagram the opportunity to build a powerful network and develop a good reputation with the public.
Facebook needs Instagram to keep up with the changing needs of the everyday online users. In addition, Facebook is doing its very best to appeal to the contemporary mobile user. Facebook is striving to make its services more appealing on Smartphone’s.
Instagram has developed a service called “Photobox. The “Photobox service enables users to easily send larger type photos to their family and friends with just the touch of a button.
Some people were not happy about Facebooks plans with Instagram. Users were concerned about Facebook obtaining and possibly using their personal information. However, the positive side of the new venture outweighs any risk or concern the new and existing customers may have.
The financing valued at new photo services could easily top $500 million. In addition, since Facebooks recent purchase business has already doubled and the company has hopes that the new trend will continue in the future.