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

Havas Media wins media account for investment firm Source

Havas Media wins media account for investment firm Source

Havas Media International has been appointed to handle the international media planning and buying account for global investment firm Source.

Share
Welcome to the age of brands as broadcasters

Welcome to the age of brands as broadcasters

With so many brands producing their own content to reach consumers in innovative ways, they will need to up their game significantly as expectations grow, says Mindshare's Adam Fulford.

Share
Mail Brands' first major ad deal features George Lamb in video for Seat

Mail Brands' first major ad deal features George Lamb in video for Seat

Mail Brands, the new commercial operation that brought together sales at the DMG Media's national newsbrand titles, has released its first partnership with a major brand since forming in July.

Share

Get news by email