Facebook splashes $1bn on Instagram acquisition

Mark Zuckerberg: Facebook chief executive and founder
Mark Zuckerberg: Facebook chief executive and founder

Facebook has snapped up Instagram, the popular photo-sharing app, for $1bn (£623m) in cash and shares and sparked a major backlash.

Mark Zuckerberg, Facebook’s chief executive and founder, made the announcement regarding the Instagram acquisition earlier today in a post on Facebook.

Following news of the acquisition Instagram users have been been voicing their anger on Twitter about the deal with many saying they do not want Facebook to have access to more of their data or to flood the service with ads.

Read more: http://wallblog.co.uk/#ixzz1rcuivoIg



Read more on this story on Brand Republic’s digital blog, The Wall.

Discussion

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Brand Republic Jobs

subscribe now