Facebook has acquired photo-sharing app Instagram for approximately $1 billion in a combination of cash and shares of Facebook. Instagram is a free photo sharing application that allows users to take a photo, apply a digital filter, and then share it on a variety of social networking services including Instagram's own.
Mark Zuckerberg shared in a Facebook post, "For years, we've focused on building the best experience for sharing photos with your friends and family."
Instagram is believed to remain a relatively independent entity. It is also claimed that users will still be able to post photos to other social networks and opt out of posting them on Facebook altogether.
