One year old Instagram app got picked by Facebook for a Billion Dollars, WoW

InstagramFacebook is all set to pay a billion dollars in cash and stock for Instagram a silicon valley startup with 12 employees and 1 and half years old without any revenues. This is Facebook’s largest acquisition and will help give it a stronger position on mobile devices.

Instagram,  a social network built around photography on mobile with a Iphone app and a recently launched android app allows people to add various effects to their photos and share with family and friends.

Instagram has about 30 million users, uploading more than  5 million phot.


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