Read it later app Instapaper buys itself back from Pinterest

It is definitely a moment of great pride for the owners of Instant Paper Inc., as they are all set to buy back their own app Instapaper from Pinterest. Back in 2013, developer Marco Arment sold his famous app Instapaper to Betaworks. Two years back, Pinterest acquired Betaworks, in a bid to "accelerate discovering and saving articles on Pinterest."

Pinterest's decision to sell Instapaper was also announced in a blog on the official Instapaper website. For the uninitiated, Instapaper is a bookmarking service that lets its users save web pages, to be "read later" on a different device, like an e-reader, smartphone or tablet.

Instant Paper, a newly formed company, is expected to receive the ownership from Pinterest, after a 21-day waiting period, according to the blog. This allows all Instapaper users to have a fair notice about the change they are going to experience. However, the Instapaper official statement said that “not much is changing for the Instapaper product outside the new ownership. The product will continue to be built and maintained by the same people who’ve been working on Instapaper for the past five years.” The company plans to keep adding and enhancing the app with robust features, and keep the focus on readers and the overall reading experience.