Facebook splashes $1bn on Instagram acquisition

Facebook has snapped up Instagram, the popular photo-sharing app, for $1bn (£623m) in cash and shares and sparked a major backlash.

Mark Zuckerberg: Facebook chief executive and founder
Mark Zuckerberg: Facebook chief executive and founder

Mark Zuckerberg, Facebook’s chief executive and founder, made the announcement regarding the Instagram acquisition earlier today in a post on Facebook.

Following news of the acquisition Instagram users have been been voicing their anger on Twitter about the deal with many saying they do not want Facebook to have access to more of their data or to flood the service with ads.

Read more: http://wallblog.co.uk/#ixzz1rcuivoIg



Read more on this story on Brand Republic’s digital blog, The Wall.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Samsung Home Appliances sponsors Channel 4 in seven-figure deal

Samsung Home Appliances sponsors Channel 4 in seven-figure deal

Samsung Home Appliances is to sponsor Channel 4, More 4 and UKTV's Good Food shows for one year in a seven-figure deal.

Share
Xaxis buys mobile app business ActionX

Xaxis buys mobile app business ActionX

Xaxis, the programmatic media and technology company, has acquired ActionX, a mobile app and cross-screen ad business.

Share
Jay Z turns Twitter blue for his relaunched music streaming site

Jay Z turns Twitter blue for his relaunched music streaming site

Would you like Beyonce, Kanye West, Coldplay, Rihanna, Madonna etc. to support your brand campaign? Tough luck, you're not Jay Z (are you?! Thanks for reading Jay!), but will his paid-for music-streaming service turn the tide?

Share

Get news by email