Facebook Snaps Up Instagram

The eye-popping price tag is more evidence we live in bubblicious times
Photo illustration by Brent Murray; Photo: Getty Images

Facebook just shocked Silicon Valley, acquiring the photo-sharing service Instagram for $1 billion in cash and stock. The two-year-old company makes photo-sharing applications that allow smartphone users to snap photos in a variety of retro styles and share them with friends on the service, over e-mail, or on a variety of other social networks.

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