[enfoires]

http://www.bbc.co.uk/news/technology-17658264

Seems a really strange move at this sort of money [chin]

[petrarkaponye]

http://www.bbc.co.uk/news/technology-17658264

Seems a really strange move at this sort of money [chin]

It is a bit odd...I'm guessing they bought it before someone else did (twitter being the obvious candidate).

[JOR4qxYH]

1 billion? Its like Facebook went to Instagram and was like "hey, we want to buy you". And Instagram was all like "ugh, go away facebook". Facebook says "no really, how much".
Instagram: "I don't know, a billion dollars, now go away".
Facebook: "Sold!"

[Snitiendumurn]

After a bit more investigation I imagine that Facebook has decided it will be more coste-effective to integrate instagram technology into their albums (allowing shared contributions etc) than re-build facebook from the ground up (their album system is a bit archaic these days).

At least, that's the value I'd see in it. Other than buying it to stop anyone else having it.

[in4wikiu]

"If you buy the theory that Google, Apple and Facebook are busily scrutinising one another's strengths and weaknesses, and moving quickly to plug the gaps in their mix of services, then one of them buying Instagram makes sense – with the competition (or even just the threat of competition) driving up the price."

http://www.guardian.co.uk/technology...?newsfeed=true

[Q0KmoR8K]

Kudos to those who developed it and made a quick million - or lots of millions .

[Lolita Palmer]

ridiculous how much a simple app can be worth nowadays.. almost frustrates me that I didn't do my studies in IT..

[Gedominew]

ridiculous how much a simple app can be worth nowadays.. almost frustrates me that I didn't do my studies in IT..

The app may appear simple, but you can be sure that there is some pretty advanced software and hardware architecture going on in the background to make it work so well for millions of users.

I think they raised $7,000,000 at the last round of funding, and that has probably gone already.

[elossenen]

ridiculous how much a simple app can be worth nowadays.. almost frustrates me that I didn't do my studies in IT..

It's not the code monkey who gets rich, it's the guy who comes up with the idea. Although it's often a code monkey who thinks it up, so I'm cool with it, because geeks deserve to rule the world.

[vipluka]

Reminds me a lot of a news paper agency that bough Hyves.nl just before they were stomped into the ground lol (hyves being a very bad dutch clone of facebook that used to be popular).

Really don't get it though. "having to rebuild facebook from the ground up". I think you can find a LOT of REALLY GOOD guys willing to do this at 10% of the costs. Perhaps if they'd started negotiating over a year ago it'd make a bit more sense.
That's probably their problem though. I don't think they have the manpower to start such a project. Google on the other hand.. It's already obvious who will win that fight I guess.

I don't think the shareholders will be happy about this.

What's facebook worth now anyway? Can't be a lot more than a couple of billion right? I bet it fluctuates alot too. Someone has some god complex issues ...

They were among the first though to create a proper platform for mobile devices, I'll give them that. Now when you think of a service, it already exists in 10 different clones, even on the Windows Phone platform lol. Guess we were too late.

[CO2490pL]

ridiculous how much a simple app can be worth nowadays.. almost frustrates me that I didn't do my studies in IT..

this will make you feel better:

http://www.dilbert.com/2012-03-31/

[fujitsusi]

It's not the code monkey who gets rich, it's the guy who comes up with the idea. Although it's often a code monkey who thinks it up, so I'm cool with it, because geeks deserve to rule the world.

In this case they are all getting rich. Founder got 400m, co-founder 100m and 11 other staff are splitting 100m.

[BeksTeene]

What's facebook worth now anyway? Can't be a lot more than a couple of billion right? I bet it fluctuates alot too. Someone has some god complex issues ...

I think you missed out the word hundred somewhere.

Thought to be around $100bn or so.

[bgsavings]

I think you missed out the word hundred somewhere.

Thought to be around $100bn or so.

I don't know why people guess these figures when it would be quicker to look up the information on Google than make a disparaging remark on here.

[Nothatspecial]

Whoever made Instagram is now filthy rich... it's just crazy how fast that happened. I only heard about Instagram six months ago.

[alex_loudermilk]

I don't know why people guess these figures when it would be quicker to look up the information on Google than make a disparaging remark on here.

I just did and he was on the money, it's around $100bn.

[selayeffethy]

I just did and he was on the money, it's around $100bn.

100bn is on the money. Go and read the thread again.

[ChebuRAtoR]

100bn is on the money. Go and read the thread again.

I had originally misinterpreted what you said too. You weren't very clear.

[kanchouska]

I had originally misinterpreted what you said too. You weren't very clear.

You're both idiots. Or maybe I am.

[rolex-buy]

It's not the code monkey who gets rich, it's the guy who comes up with the idea. Although it's often a code monkey who thinks it up, so I'm cool with it, because geeks deserve to rule the world.

Exactly, I mean look at Zuckerberg... we couldn't be in safer hands.