FACEBOOK BUYS INSTAGRAM FOR $1 BILLION: What You Need To Know

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Business Insider by Matt Rosoff

  Facebook bought Instagram, a company that makes a photo-sharing app for iPhone and (very recently) Android for a whopping $1 billion in cash.

Instagram has only been around for less than two years, has only 13 employees, and has never made a dime of revenue.

But it’s a good fit for Facebook’s mobile ambitions.

Here’s everything you need to know about the deal, all in one place:


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