|Facebook buys Instagram photo sharing network for $1bn|
|Facebook has announced it is to buy Instagram - the popular photo-sharing smartphone app.
Facebook is paying $1bn (£629m) in cash and stock for the takeover.
Instagram was only launched in October 2010 - initially just for the iPhone before being offered as an Android app last week.
|Paul Kedrosky, a tech investor and author of the Infectious Greed blog, told the BBC: "I understand Instagram has 13 employees - so at $77m a head that makes it the most expensive business deal in history that I can think of."|
I really need to get of my arse and create an awesome app. It may fail as most do, but at least I'll have tried.
- Edgar Allen Poe