Developments in photo-sharing service Instagram

Published on NewsOK Modified: December 18, 2012 at 5:40 pm •  Published: December 18, 2012
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This week, Instagram announced new policies to reflect its growth and new ownership. Some of the changes regarding how members' photos may be used in ads sparked complaints on Twitter and elsewhere. Here's a look at key developments in Instagram's service.

— April 3: Instagram, a photo-sharing social network accessed on smartphones, arrives on Android devices after starting out as an app available only on Apple gadgets such as the iPhone.

— April 9: Facebook Inc. announces plans to buy Instagram for $1 billion in cash and stock.

— May 18: Facebook's stock begins trading publicly. After a small increase on its first day, the stock price tumbles amid concerns about the company's ability to keep growing revenue.

— Aug. 22: Federal government clears Instagram deal. Because of Facebook's falling stock price, the $1 billion cash-and-stock deal drops to about $750 million.

— Aug. 31: Facebook closes on its Instagram deal, which by then is worth about $715 million — $300 million of it in cash and the rest in stock.



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