So now it’s official, Instagram is now part of Facebook and it looks like Facebook will now start integrating the 12 man team of instagram into it’s fold. The announcement was made by Mike Schroepfer — FB VP for Engineering.
The complete Facebook welcome announcement after the break.
Welcoming Instagram to Facebook
September 06, 2012
By Mike Schroepfer
So many of us at Facebook love using Instagram to share moments with our friends. And for so many people, sharing photos with friends is an important part of the Facebook experience. That’s why we’re so excited to bring Instagram to Facebook and see what we can create together.
As we said from the beginning, we are committed to building and growing Instagram independently. Instagram will continue to serve its community, and we will help Instagram continue to grow by using Facebook’s strong engineering team and infrastructure. We also can’t wait to work with the talented Instagram team to improve the mobile experience.
We’re looking forward to an exciting future with the Instagram team and to all of the great new experiences we’re going to be able to build together.
The actual financial value of Instagram acquisition is now only $735 Million that’s more than $250 million less than the of the original $1 Billion that Mark Zuckerberg announced back in April. If you can remember last August 2012, FTC cleared Facebook acquire Instagram for $1 Billion in stocks and cash but since FB and Instagram agreed that a large portion of that 1% equity in the form of stock, the total acquisition value will now be $735 Million, this was due to the disappointing performance and steady decline stock price of FB shares.
PetalPixel reported that Instagram upload went up to more than 5 billion uploaded photos per month, that’s up from 4 billion just two months ago. Which means Instagram users are uploading more than 17 million photos daily and have been adding 10 million new users per month, not bad for a service that currently have 12 employees and currently does have any revenue model but that may change soon, since Facebook can provide Instagram their much needed sales team.