Facebook buys Instagram for $1 billion

Instagram's been in the news a fair bit lately. After much teasing of an Android application, the photo sharing service finally came over to the Google owned platform and even released an update. Now, Facebook has bought Instagram for $1 billion. Both, Mark Zuckerberg, founder and CEO of Facebook and Kevin Systrom, Founder and CEO of Instagram wrote in blog posts about their deal. Zuckerberg says that for years, Facebook has focused on photos to connect friends and families and now they'll be able to enhance that experience with "beautiful" mobile photos. Facebook has no plans to shut down Instagram as the company has done with previous startups they've acquired. Zuckerberg writes, "... we need to be mindful about keeping and building on Instagram's strengths and features rather than just trying to integrate everything into Facebook. That's why we're committed to building and growing Instagram independently. Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people."Click here for full story