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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It is one thing for entrepreneurs, whether urban or rural, to create and operate an online store, as some digital platforms have made it relatively easy to manage an e-store – even by using just a smartphone.
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.
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.(more…)
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