$1b deal: Facebook buys Instagram mobile photo sharing app

Facebook co-founder Mark Zuckerberg explained why his company bought the mobile photo sharing site with over 30 million registered users

The app allows people to share photos taken with their mobiles with friends on its own site and on Facebook, Twitter or via text. Photographers can use a variety of filters to alter the look of their pictures, giving their images a vintage, old-world feel. Users can then promote pictures and add comments.
Facebook founder Mark Zuckerberg broke the news on Facebook. He said: "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."

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