Facebook buys photo sharing service Instagram for $1bn
Just as Instagram looked to expand its ambitions as a mobile photo sharing network, it has been bought by Facebook for $1bn. Facebook CEO Mark Zuckerberg says his company 'need[s] to be mindful about keeping and building on Instagram's strengths and features, rather than just trying to integrate everything into Facebook.' He stresses the importance of growing the service independently of Facebook and voices support for Instagram's recent expansion to easily share images from other Apps, such as Hipstamatic and Camera Awesome.
CNN's Money site provides the interesting reminder that the sale price is nearly 30 times the amount Yahoo paid for Flickr, back in 2004.
Facebook Press Release:
MENLO PARK, CALIF.—April 9, 2012—Facebook announced today that it has reached an agreement to acquire Instagram, a fun, popular photo-sharing app for mobile devices.
The total consideration for San Francisco-based Instagram is approximately $1 billion in a combination of cash and shares of Facebook. The transaction, which is subject to customary closing conditions, is expected to close later this quarter.
Mark Zuckerberg, founder and CEO of Facebook, posted about the transaction on his Timeline:
I'm excited to share the news that we've agreed to acquire Instagram and that their talented team will be joining Facebook.
For years, we've focused on building the best experience for sharing photos with your friends and family. Now, we'll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.
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. Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people.
We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.
These and many other features are important parts of the Instagram experience and we understand that. We will try to learn from Instagram's experience to build similar features into our other products. At the same time, we will try to help Instagram continue to grow by using Facebook's strong engineering team and infrastructure.
This is an important milestone for Facebook because it's the first time we've ever acquired a product and company with so many users. We don't plan on doing many more of these, if any at all. But providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.
We're looking forward to working with the Instagram team and to all of the great new experiences we're going to be able to build together.
Just in case there was any doubt in your mind, here's the definitive video proof that yes, a $50,000 cinema camera beats the pants off a $50 camcorder in a side-by-side test.
Photographers who fly frequently in the US may want to finally invest in that TSA Pre-check status: in standard security lines, cameras and all other electronics larger than a smartphone will need to be placed in a separate bin for screening.
Images have appeared which claim to show Nikon's forthcoming D850 DSLR, the development of which was announced this week. If genuine, the pictures indicate that the D850 will offer illuminated controls and a tilting LCD screen, but no built-in flash.
To celebrate the Daguerreotype Achromat 2.9/64 lens' successful Kickstarter campaign, Lomography has announced a chrome-plated version of the lens in Nikon and Canon DSLR mounts.
Nikon just released four new firmware updates, adding features and fixing bugs in the D600, D610, D750 and the KeyMission 80.
It probably hasn't made your landscape photography bucket list just yet, but there's a good reason to visit Idaho. Here are 9 must-visit locations in this beautiful state.
Oops... Adobe accidentally leaked their unfinished Lightroom-powered cloud-based photo editor 'Project Nimbus' to some Creative Cloud users yesterday.
Storm chaser and award-winning photographer Mike Oblinski just released his latest time-lapse, and it is absolutely stunning.
Looking to level up your video capture capabilities without buying a whole new camera? Blackmagic's Video Assist 4K is well worth considering, despite a few flaws and its lack of 4K/60p support.
We're big fans of Fujifilm's fast-growing GFX system, and the GF 110mm F2 lens is no exception. Positioned as the system's classic portrait lens, its optics are just as impressive with non-human subjects as well.
Nikon turns 100 years old today, and the company is celebrating with a wacky music video, some tributes to its history, and a new vision presented by president Kazuo Ushida.
Phottix just released the Premio Parabolic Umbrellas series, replacing their Para-Pro line with a stronger, deeper and better made set of parabolic umbrellas.
The Moto Z2 is Motorola's first dual-camera smartphone and, compared to its predecessor, comes with a number of improvements and new camera features.
Researchers at Stanford have revealed a new '4D camera system' built for robots. The system is based on the same light field tech that allowed Lytro cameras to refocus images after they were taken.
If you want 'beautiful rendition' from your lenses, follow this simple rule: only buy classic low-element prime lenses with lead glass elements—everything else is junk.
In an interview with CNBC, Leica Chairman Andreas Kaufmann said he dreams of a 'true Leica phone,' and hinted at what's next for the Leica and Huawei partnership.
Wildlife and nature photographer Peter Mather tells the story behind this exceptional shot of a mama grizzly and her cub searching for salmon in Yukon, Canada.
Popular YouTube channel TastyTuts has put together this 33-video Beginner's Guide to Adobe Photoshop—a godsend for anybody who wants to learn Photoshop from scratch.
The long anticipated replacement for the popular Rode VideoMic Pro is almost ready for shipping. The price of the upgraded VideoMic Pro+ will be £290/$300 when it goes on sale in mid-August.
A new iOS app called Explorest wants to help you find new locations to shoot. It's limited to Singapore for now, but the app is packed full of useful location scouting features.
Nikon's D850 development announcement is extremely light on details, so we assembled a wish list of upgrades and features we'd love to see.
Nikon has announced the development of the long-awaited replacement to its full-frame D810: the D850. Nikon says that the D850 will build on the strengths of its predecessor and offer 'new technologies, features and performance enhancements.'
Lens manufacturer Voigtlander has introduced a 65mm F2 macro lens for Sony E-mount that it says "rates as one of the finest in the history of Voigtländer."
The UK released a preview of their upcoming drone safety regulations, and it looks like drone pilots will have to both register their device and pass safety awareness tests.
National Geographic photographer Bob Holmes talks about light, and why you need to learn how to 'see' and not just 'look' at your subject.
Photographer Alessandro Barteletti shares the story behind his National Geographic Italia cover, shot with a 10-year-old DSLR and an iPhone flashlight.
Fashion catalog photographers in China have some next-level models to work with. In this video, you see one model hitting 30 poses in 15 seconds as the photographer snaps away.
Photographer Paul Adshead breaks down 11 photography-related smartphone apps he couldn't live without—from a pocket light meter to a lighting diagram app.
Fast-growing Chinese flash brand Godox is teasing a brand new flash trigger... for smartphones. The Godox A1 is a 'phone flash system' that can act as both flash and 2.4GHz trigger.
On July 12, Canon opened its newest Technology and Support Center, designed to serve the motion picture industry, in Burbank, CA. DPReview got a sneak peak and takes you behind the scenes.