acquisition marks an exception in strategy for Facebook, which
has traditionally bought small companies as a means of hiring
coveted teams of engineers. Facebook generally discontinues
the acquired company's products or builds similar versions
that it integrates into its service.
has said that by the end of 2011, its users had uploaded some
400 million photos or about 60 pix per second. Instagram launched
its Android app just last week, garnering more than one million
is backed by a number of web industry bigwigs including Benchmark
Capital and Andreessen Horowitz. Benchmark partner Matt Cohler
led a $7 million funding round in Instagram in 2011 and serves
on Instagram's board.
is likely that Facebook will acquire Instagram's entire team