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Facebook acquires Instagram

Facebook acquires Instagram - 12 April, 2012

12 April, 2012

On 12th April 2012, Facebook acquires Instagram for $1 billion cash and stock. A year later, Facebook had grown by only 3% while Instagram grew 23%. The deal was officially closed on 6th September 2012.

Instagram had been launched on 6th October 2010 by Kevin Systrom and Mike Krieger.

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