Facebook updates status with Instagram deal

World's largest social network acquires photo-sharing company and eliminates competitor in one stroke.

    " />" />

    Facebook, the leading social networking site in the world, has spent $1bn to buy a smartphone app called Instagram which allows users to edit and share photos online.

    Experts have said this is a huge payout for a three-year-old company with 13 employees, no business plan and no profits.

    Even so, with more than 25 million of its own users, the rapidly growing Instagram had become a serious competitor to Facebook in the social networking arena, and on its most important platform – smartphones.

    Al Jazeera's Rob Reynolds reports.

    Click here to take our Facebook poll on this story.

    SOURCE: Al Jazeera


    Why Jerusalem is not the capital of Israel

    Why Jerusalem is not the capital of Israel

    No country in the world recognises Jerusalem as Israel's capital.

    Strong quotes for Martin Luther King Jr Day

    Quotes from Martin Luther King Jr that resonate today

    Quotes of justice, education, religion and race said by MLK Jr.

    Bitcoin: Know the risks before you buy

    Bitcoin: All you need to know before you buy

    'Bitcoin is right now the riskiest investment you can make.' Here are the risks you should consider before you buy.