Facebook with 800 millions active users has made largest acquisition by offering $1 billion to photo-sharing app Instagram and very happy with its 5M downloads in six days on Android.
Instagram is an app that used for sharing photos of their life moments which people shot with their mobile.
The most likely app records more than 30 million users within a year and seeing its popularity, facebook is preparing a $100 billions initial public offering of stock and paying $1 billions for San Francisco-based Instagram and hiring its dozen or so employees.
The photo-sharing app that hit on iOS benchmark is most popular amongst Android users, who felt something missing when the app run on a different platform.
Even on Google Play, best market online store for Android, Instagram recorded 1 million downloads on its first day.
Whether it is from breakfast egg sandwiches to sunsets to the smiling faces of loved one, this app is used for everything, termed as crazy photo sharing technology for Facebook
Yesterday, Facebook announced that buying with $1 billion price; company will also pay about $33 for each Instagram user if the company gets its expected $100 billion valuation after going public.
“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,” the developer of Facebook, CEO Mark Zuckerberg reportedly said on site page.