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


    YOU MIGHT ALSO LIKE

    World Cup 2018 quiz: How big a football fan are you?

    World Cup 2018 quiz: How big a football fan are you?

    Answer as many correct questions in 90 seconds to win the World Cup with your favourite team.

    The shocking story of Israel's disappeared babies

    The shocking story of Israel's disappeared babies

    New information has come to light about thousands of mostly Yemeni children believed to have been abducted in the 1950s.

    Stories from the sex trade

    Stories from the sex trade

    Dutch sex workers, pimps and johns share their stories.