Facebook Buys Instagram, The Photo Sharing App Loved By Hipsters, For A Cool $1 Billion

Instagram made headlines last week when the popular photo sharing and photo editing app debuted on Google’s Android mobile platform. Previously, it was exclusive to the iPhone and many Apple-loving hipsters were none too pleased to have to share their beloved app with a bunch of new Android users. Some took to Twitter and their comments had a distinctive “I liked X before X was cool” theme to them (despite the fact that Instagram is used by tens of millions of people and is far from indie at this point). If there’s one thing hipsters hate, it when the things that they like experience success.

Now, it looks like Instagram is about to lose whatever shred of indie cred it had left at a much faster rate. It was just purchased by Facebook.

Facebook will reportedly pay $1 billion for Instagram and its team. Mark Zuckerberg just announced the news:

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.

Facebook will surely look to integrate Instagram into its existing interface (try saying that 10 times fast), bringing it to the masses (in other words, moms). So, Instgram is basically over at this point. Start looking for a new favorite app, hipsters.

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One Response to Facebook Buys Instagram, The Photo Sharing App Loved By Hipsters, For A Cool $1 Billion

  1. Insane. Another overvalued tech company purchased with Monopoly money. This will just add to the drama when Facebook comes crashing down to Earth in a year or so.

    http://mankabros.com/blogs/onmedea/2012/01/27/facebook-and-the-disappearing-valuation/