Tom Simonite

A View from Tom Simonite

Facebook Spends $1 Billion on Photo-Sharing Network Instagram

The move suggests that Facebook is willing to spend large sums to remain on top.

  • April 9, 2012

Mark Zuckerberg made a rare public post to his Facebook page today to announce that his company is spending $1 billion to buy Instagram, a social network used to share photos taken with phones and modified with retro filters.

Zuckerberg wrote that Instagram would continue to operate “independently.” Users will be able to keep their Instagram photos, friends, and followers separate from their Facebook account, he said. At the same time, Facebook will get features similar to those of Instagram. The acquisition is Facebook’s largest, and suggests the company is willing to spend large amounts to ensure it retains its status as the most dominant social network.

Uh oh–you've read all five of your free articles for this month.

Insider Premium

$179.95/yr US PRICE

Want more award-winning journalism? Subscribe to Insider Basic.

  • Insider Basic {! insider.prices.basic !}*

    {! insider.display.menuOptionsLabel !}

    Six issues of our award winning magazine and daily delivery of The Download, our newsletter of what’s important in technology and innovation.

    See details+

    What's Included

    Bimonthly home delivery and unlimited 24/7 access to MIT Technology Review’s website.

    The Download. Our daily newsletter of what's important in technology and innovation.

You've read of free articles this month.