Facebook Buys Instagram For $1 Billion

Facebook just bought Instagram for $1 billion in cash and stock.

Instagram is a mobile-only photo-sharing app. It grew from 1 million users in January 2011 to 15 million in December 2011. It has 30 million users now.

http://www.businessinsider.com/facebook-buys-instagram-2012-4#ixzz1rZM4tIiE

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