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Facebook buys Instagram for $1 billion

Facebook has just announced that it has bought the Instagram photo-sharing service for a cool $1 billion (around £630 million).The shock acquisition comes just days after the filter-friendly application launched an Android app to sit alongside the iOS service, which has over 30 million users.

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Facebook has just announced that it has bought the Instagram photo-sharing service for a cool $1 billion (around £630 million).The shock acquisition comes just days after the filter-friendly application launched an Android app to sit alongside the iOS service, which has over 30 million users.The social networking giant will pay Instagram $1 billion in cash and stock from its upcoming IPO.

The full team, including CEO Kevin Systrom will stay on.CEO Mark Zuckerberg announced the deal on his Facebook page, saying hook-up will help to create the best possible experience for sharing mobile photos.Facebook IPOFacebook files for IPOZuck on ‘social mission’What Zuckerberg’s letter teaches usCommitted to growing InstagramZuckerberg also said that Instagram will remain as a standalone service that Facebook is committed to developing as independent entity.He wrote: “I’m excited to share the news that we’ve agreed to acquire Instagram and that their talented team will be joining Facebook.”For years, we’ve focused on building the best experience for sharing photos with your friends and family. Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.”We believe these are different experiences that complement each other.

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Facebook buys Instagram for $1 billion

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Ecommerce

Thailand’s internet economy to hit US$53 billion in 2025

New users in Southeast Asia are coming online at a blistering pace, adding 40M new Internet users this year alone compared to 100M between 2015 and 2019 and 70% of the region’s population is now online.

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Internet usage in Southeast Asia continues to multiply, with 40M new users this year alone

Southeast Asia’s Internet sectors continue to see strong growth, hitting $100 billion in 2020, and are on track to cross $300 billion by 2025 stated a report by Google, Singapore state investor Temasek Holdings and business consultants Bain & Co.

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Ecommerce

Southeast Asia’s internet economy hits $100 billion

The two pacesetters in the region are Indonesia and Vietnam, which lead the pack with growth rates in excess of 40% a year.

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The internet economies in Malaysia, Thailand, Singapore and the Philippines are growing by between 20% and 30% annually, with no signs of slowing down, according to Google and Temasek multi-year research program. 

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Thailand enters 5G technology era

Thailand is leading the ASEAN community in 5G technology beginning with Chulalongkorn University and the Eastern Economic Corridor project from next year.

Olivier Languepin

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The Thai Government’s National Broadcasting and Telecommunications Commission (NBTC) says it wants Thailand to be one of the first Asian countries to make the jump to 5G.

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