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.
Be sure to follow me on Instagram IAmGWoods & Hot1079atl! Just search! I’ll tweet you back!
1. In 2015, Miley Cyrus revealed that she identifies as sexually fluid, telling Paper magazine, “I am literally open to every single thing that is consenting and doesn’t involve an animal and everyone is of age.”
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2. Ricky Martin shocked the world when he came out as gay in 2010. The father of two once revealed, “I know that I like both men and women, I’m against sexual labels.”
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3. After photos surfaced of her making out with Michelle Rodriguez, Cara Delevingne came clean about her bisexuality, saying, “It took me a long time to accept the idea, until I first fell in love with a girl at 20 and recognized that I had to accept it.”
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4. Frank Ocean captivated the world with his songs about love and women. When he opened up about his experience falling in love with a guy, he garnered the attention of many more.
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5. Lady Gaga has been open about her sexuality since the beginning of her career. After naysayers claimed it was all for marketing, she said, “This is who I am and who I have always been.”
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6. After coming under fire for using the F bomb multiple times on social media, Azealia Banks defended herself, saying “I can’t be homophobic. I’m bisexual.”
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7. Amber Rose has never been shy about her sexuality. She even openly admitted to being in a relationship with a girl, way before her Kanye days.
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8. David Bowie was one of the most notable artists of all time, whose sexuality and gender bent all of the traditional rules.
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9. Mel B once revealed that she was in a four-year relationship with a woman before.
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10. In 2013, Zoe Saldana said that she “might end up with a woman raising my children. I’ve been attracted to the male species, but if one day I wake up and want to be with a woman, I will do that because it is my life, therefore it is my decision.”
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11. Megan Fox told Esquire Magazine once, “I have no question in my mind about being bisexual.”
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12. Angelina Jolie has always been open about her bisexuality. She once told OK Magazine, “I have loved women in the past and slept with them.”
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Continue reading Facebook Buys Instagram For $1 Billion
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