Facebook purchases Instagram app for $1 billion

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Facebook is purchasing a mobile app that teens can't get enough of, the Los Angeles Times said.

Users of Instagram tend to be far younger than the users of Facebook, but the two certainly are similar in terms of popularity.

Instagram is a mobile application that is used to snap photos, jazz them up with effects, and post them to social networking sites like Facebook or Twitter.

Facebook is paying $1 billion for a hugely popular photo-sharing app maker.

The San Francisco based company says that is has more than 30 million users. Researchers say that the app attracts the most active users of apps, teens.

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This page contains a single entry by pete8290 published on April 11, 2012 2:30 PM.

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