April 9, 2012: Facebook Purchased Instagram

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April 9, 2012: Facebook buys Instagram

2012 – Facebook – trying to get a hold on photosharing – decides to not wait for their iPhone app to come out but instead purchase Instagram for 1 billion dollars ($300 million and 23 million shares of Facebook stock). The reason Facebook made the purchase was for the close to 50 million Instagram users. Facebook had plans to keep both companies separate, but found later that joining the two via databases would help both companies grow.  The companies finalized the deal on September 6, 2012.

Wikazine – Full Day in Tech History podcast show notes for April 9

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Jeffrey Powers @geekazine

I love tech history. I enjoy how we evolved from computers that fill a room to computers we wear on our bodies. I have put a full archive of tech history together at Wikazine. You can also talk history at Google +. I am also a podcaster and V-caster at Geekazine and a Podcast Coach at How to Record Podcasts. You can also sign up for a Helpout

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