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Facebook completes Instagram deal
Thursday, 06 September 2012 15:58
Facebook has officially completed their deal to acquire Instagram for $735 Million dollars. The deal includes $300 Million dollars in cash and the remaining $435 Million in stock. Instagram's 16 employees will be moving into the Facebook offices and it would probably be safe to see that we will be seeing Instagram's features being integrated into Facebook in the coming months. BusinessInsider has the story.
Instagram founder Kevin Systrom is now a Facebook employee.
The social network has completed its acquisition of the photo-sharing service, Facebook executive Mike Schroepfer announced in a post.
