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Facebook Buys Instagram for $1 Billion

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By Douglas MacMillan

April 12, 2012 at 10:00 PM UTC

This article is for subscribers only.

BusinessWeek Cover Image (12_16, portrait)

This article is part of the April 16, 2012 issue of businessweek.

On Apr. 9, Facebook agreed to pay $1 billion for Instagram, a free photo-sharing app for Android and iPhone that hasn’t yet celebrated its second birthday. We crunch the numbers behind Mark Zuckerberg’s biggest acquisition to date. Sepia filters and retro borders not included.