Silicon success hits Instagram as Facebook shells out $1 billion to buy it

Instagram Facebook

It’s a sign of the times.

Mark Zuckerberg announced that Facebook has purchased photo app Instagram for $1 billion. The 13-person team at Instagram has not been able to generate revenue but was able to build a strong base of 30 million users.

Facebook has done poorly at developing their own mobile technology with the Facebook iPad app having not been released until after the iPad 2. Here’s the report from the Wall Street Journal:

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Written by Lorie Wimble

Lorie is the "Liberal Voice" of Conservative Haven, a political blog, and has 2 astounding children. Find her on Google+ and Twitter.
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