Facebook says it will spend $1 billion to buy the photo-sharing software company Instagram
Posted: 04/09/2012
MENLO PARK, Calif. (AP) - Facebook says it will spend $1 billionto buy the photo-sharing software company Instagram.
The deal comes days after the service began offering a version for Android phones. The payment will be in cash and Facebook stock.
Facebook is expected to complete its initial public offering of
stock next month.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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