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.
|Fangorn Forest by cand1d|
|Yosemite Falls with Moonbow by Jonathan Shapiro|
from Best Landscape of the Week 4
Think Tank Photo has updated two of its popular bag lines with improvements to functionality. Read more
We’ve all seen Bob Jackson’s Pulitzer Prize winning photo, but there's another.
The sample footage looks good.
It will automatically pick the best camera settings depending on shooting conditions. Read more
As if $13,950 wasn’t enough to pay for a special edition lens, the Leica Store in San Francisco is offering a prototype of said lens for $24,995. Read more
Make those old photos disappear without deleting them forever.
Firmware updates enable 10 fps shooting with adapted A-mount lenses, and faster startup times and better compatibility for 20 fps shooting when using native lenses on the a9.
Fujifilm has released firmware updates for its camera models X-T2, X-Pro2, GFX 50s, X-T20, X100F and X-T1 and updates to three of its software products.
A 22 year-old Romanian photographer uses his DJI Phantom 4 drone to capture unique perspectives of the city where he now lives.
What's it like to ride the waves with champion surfer Kelly Slater? This VR video from Teton Gravity Research gives you a taste.
When Nikon released the full-frame D3 in 2007, it changed the professional photography industry. In this week's Throwback Thursday, Barney remembers a legend. Read more
The new stuff should have better red hues, improved sensitivity and finer grain - but don't worry - will still shift blues to green, greens to purple and yellows to pink.
Ricoh has introduced a new rugged compact camera with a 16MP CMOS sensor, 28-140mm lens, 2.7" LCD and built-in LED macro lights. Read more
This compact drone can shoot HD video using a 2-axis stabilized 12MP camera. Read more
The new Prynt Pocket can print a photo directly from their iPhone simply by inserting the phone into the printer, then snapping a photo. Each print will cost about 50 cents. Read more
Updates for Adobe Camera Raw and Lightroom CC bring support for the Sony A9 and Panasonic ZS70/TZ90, along with bug fixes.
The Triggertrap remote camera control system is no longer sold due to the company folding, but now users will be able to build their own. Read more
The Magic Format Converter comes with internal optics that expand the image circle of full-frame DSLR lenses for use on the Fuji medium format camera. Read more
The usually Apple-exclusive MacPhun software developer has announced that it will introduce PC versions of two of its most popular applications. Both Aurora HDR and Luminar should be available for the Windows operating system by the autumn of this year. Read more
Sony's newest G Master telephoto zoom, announced alongside the a9, is the first of the company's FE lenses to reach 400mm natively. We had one in California and photographed horses, portraits, and landscapes - check out how it did. Read more
Garmin has entered the 360-camera market with the VIRB, which captures 5.7K video at 30p as well as 15MP stills. Read more
German media reports that the founders of the company behind the Panono 360-degree ball camera have filed for bankruptcy at a court in Berlin. Read more
With a claimed 800 new custom parts, Microsoft's updated Surface Pro comes with the latest Kaby Lake processors, better battery life, a new hinge, plus the Surface Pen is updated as well. Read more
DW Photo is attempting to resurrect the Hy6 medium format camera, though the legal tangles of its development may stop it being branded Rolleiflex.
The Kodak EKTRA, the company's 'camera first' smartphone, is now available to purchase in the United States. Read more
Apple and Nokia have settled their years-old patent dispute. Apple will make an undisclosed payment to Nokia and sign a licensing agreement related to digital health products with the Finnish company.
David Gibson, one of Britain's best known street shooters, shares all.
Photographers from the SKYGLOW project travelled 150k miles and took 3 million photos in increasingly rare locations: those without light pollution.
The world's fastest 200mm was produced for 16 years. In that time, only 8000 were made.
Photokina, the biennial photo industry trade show in Cologne, Germany, has announced that it will become an annual event beginning in 2018, and expand its focus to additional areas of imaging technology. Read more