Just around a week of launch of Instagram for Android and its download count crossed 1 million and now Facebook has taken an opportunity to reap all the benefits from Instagram by acquiring it for massive $1 bn deal.

This recent update has been shared by Mark Zuckerberg (CEO and Founder of Facebook) on his Facebook timeline. Way to go Mark...

I'm excited to share the news that we've agreed to acquire Instagram and that their talented team will be joining Facebook.

For years, we've focused on building the best experience for sharing photos with your friends and family. Now, we'll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.

We believe these are different experiences that complement each other. But in order to do this well, we need to be mindful about keeping and building on Instagram's strengths and features rather than just trying to integrate everything into Facebook.

That's why we're committed to building and growing Instagram independently. Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people.

And this has been confirmed by Kevin Systrom (CEO of Instagram) on his blog, see below his thoughts on this,

When Mike and I started Instagram nearly two years ago, we set out to change and improve the way the world communicates and shares. We've had an amazing time watching Instagram grow into a vibrant community of people from all around the globe. Today, we couldn't be happier to announce that Instagram has agreed to be acquired by Facebook. 

Facebook is touching new heights every other day and now it's like being whole new world of social networking in this fast paced life. Let's see how this deal comes out with magic for users. But this is really big acquisition and let's hopes it's beneficial for all.

Image Courtesy: Brandfluent Digital