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In Pictures: Facebook turns 10 - A look back at th...
Facebook buys Instagram for $1 billion
In the face of competition at the hands of budding social networks, Facebook bought the popular photo-sharing service Instagram for $1 billion in cash and stock in April 2012. It was the company’s largest acquisition and provided it access to Instagram's 27 million iOS users. The purchase came just one week after Instagram had expanded to Android. Instagram remains an independently branded service operating under Facebook's management.
In Pictures: Facebook turns 10 - A look back at the milestones