
A year ago this week, Facebook surprised the world by announcing an agreement to acquire Instagram for a whopping $1 billion one month shy of its initial offering on the stock market. At the time, Instagram was a comparatively small but beloved mobile app for editing and sharing photos with no discernible revenue model. Facebook investors were worried it wouldn't contribute to Facebook's bottom line; Instagram users were worried the service they'd come to know and love would be absorbed into Facebook. In a note posted to Instagram's blog shortly after the deal was announced, Facebook co-founder and CEO Kevin Systrom pledged that Instagram would remain essentially the same, and that under new owners, would continue to improve and evolve. He wrote: Read more... More about Facebook , Instagram , Business , and Apps Software Read more »
