The New York Times
Monday, April 9, 2012 -- 1:27 PM EDT
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Facebook Buys Instagram for $1 Billion
Facebook has acquired Instagram, the popular photo-sharing application, for about $1 billion in cash and stock, the company said Monday. In a Facebook post, the company's chief, Mark Zuckerberg, said he planned to build Instagram independently from the social network, allowing users to post on other social networks, follow users not on Facebook and opt out of sharing on Facebook.
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http://dealbook.nytimes.com/2012/04/09/facebook-buys-instagram-for-1-billion/?emc=na
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