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Facebook Buys Up Instagram

By now, the whole media/tech world is abuzz following the announcement that Facebook has acquired photo-sharing service Instagram for a cool $1 billion in cash and stock. Since Instagram was initially unveiled in Apple’s App Store in the fall of 2010, we’ve covered a fair amount of ways that the agency world has co-opted the tool. Some of the most notable examples include the Instaprint device that was created by New York shop Breakfast, which is now looking to sell directly to consumers, the Barbarian Group’s Screenstagram software and Razorfish Atlanta’s Instagram feed that was launched well over a year ago.

Of course, it also seems seems that everyone on our Facebook feed seems to be using Instagram  so we’re thinking that having the social network as its parent seems fitting and will entice even more agencies and marketers to enter and join in on the fun. Anyhow, Instagram’s co-founder Kevin Systrom says the song will remain the same with the service while Mark Zuckerberg noted on his Timeline that his company’s newest acquisition will continue operation as a separate platform. Our sister site Social Times has more on today’s big news including a statement from Facebook’s chief.

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