{"id":12835,"date":"2012-04-09T04:04:54","date_gmt":"2012-04-09T04:04:54","guid":{"rendered":""},"modified":"2012-04-09T04:04:54","modified_gmt":"2012-04-09T04:04:54","slug":"Facebook-buys-Instagram-for-US-1b","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=12835","title":{"rendered":"Facebook buys Instagram for US$1b"},"content":{"rendered":"<p><strong>Facebook announced Monday that it had reached an agreement to acquire Instagram, describing it as &#8220;a fun, popular photo-sharing app for mobile devices,&#8221; for $1 billion in cash and shares.<\/strong><\/p>\n<p>An Instagram application tuned to Apple&#8217;s iPhones, iPads, and iPod touch devices has been downloaded more than 27 million times since the first version was released in late 2010 by the San Francisco startup.<\/p>\n<p><strong>Instagram co-founder Kevin Systrom released the figure while providing a glimpse last month at a version of the application tailored for smartphones power by Google-backed Android software.<\/strong><\/p>\n<p>The free mini-program lets people give classic looks to square photos using &#8220;filters&#8221; and then share them at Twitter, Facebook or other social networks.<\/p>\n<p>Apple crowned Instagram its app-of-the-year for 2011.<\/p>\n<p><strong>Instagram&#8217;s roster of backers includes Twitter co-founder Jack Dorsey.<\/strong><\/p>\n<p><strong>A simple idea turned into a BILLION Dollars!<\/strong><\/p>\n<p><em>Source AP<\/em><br \/>\n<!--break--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Facebook announced Monday that it had reached an agreement to acquire Instagram, describing it as &#8220;a fun, popular photo-sharing app<\/p>\n","protected":false},"author":1,"featured_media":66637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[1],"tags":[],"class_list":["post-12835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-150x150.jpeg","medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-300x200.jpeg","medium_large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-768x512.jpeg","large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download.jpeg","1536x1536":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download.jpeg","2048x2048":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download.jpeg","colormag-highlighted-post":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-392x272.jpeg","colormag-featured-post-medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-390x205.jpeg","colormag-featured-post-small":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-130x90.jpeg","colormag-featured-image":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-800x445.jpeg","colormag-default-news":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-150x150.jpeg","colormag-featured-image-large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-1024x600.jpeg","colormag-elementor-block-extra-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-1024x480.jpeg","colormag-elementor-grid-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-600x417.jpeg","colormag-elementor-grid-small-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-285x450.jpeg","colormag-elementor-grid-medium-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/2013\/12\/download-575x198.jpeg"},"magazineBlocksPostAuthor":{"name":"Admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"Facebook 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