Social network Facebook has bought Instagram - a profitless, two-year-old photo-sharing application - for $US1 billion.
Instagram is a mobile sensation that counts Twitter co-founder Jack Dorsey among its backers and has been downloaded by more than 30 million people. The $1 billion price is the highest for a profitless startup since Google bought YouTube for $US1.65 billion in 2006.
I wonder if this is why apps to upload photos to Facebook have broken over the last few weeks, and perhaps its why suddenly in the last few days Facebook dramatically changed the way you edit albums ... you can NO LONGER shift photos from Mobile Uploads album (sent via a specific facebook email) over to other account albums ... anti-competitive or what !!?
No, not surprising given the people running Facebook.
one of many reason to boycott facebook. All you facebook users are crazy, you're giving them too much power over your personal information and lives. Stop it.
@Peter, !00% with you on that score. Did FB for a very short time , no more. FB is so over rated, invasive and a dangerous tool in the hands of so many.
Read more: http://www.smh.com.au/technology/technology-news/1b-deal-facebook-buys-instagram-mobile-photo-sharing-app-20120410-1wllb.html#ixzz1rg5HiOHP