Facebook forked over $1 billion dollars for the incredibly popular Instagram. That's a huge payday for Instagram's CEO Kevin Systrom, who will net $400 million dollars from the sale.
What does this mean for Instagram and Facebook users?
Zuckerberg had this to say to his 12,774,175 Facebook subscribers: “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.”
It seems that Zuckerberg’s big news has made many Instagram users happy, given that in the four hours since he announced his news on his Facebook page, nearly 100,000 people have liked his status.
Zuckerberg was quick to point out that such an acquisition will likely be an isolated occurrence. He explained the significance of this move: “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.”
So if Facebook’s plan is to leave Instagram much like it found it and keep it a separate entity from Facebook, why buy it? Zuckerberg explains that “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.”
If this news is enough to make you want to delete your Instagram account, Mashable has instructions for how to delete your Instagram account without losing any of your photos.
What do you think? How does today’s new sit with you? Will you continue to use Instagram?
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