Facebook to Buy Instagram for £629 million

Facebook has announced it’s plans to buy the hugely popular photo sharing network for £629 million in cash and stock. Although Instagram only started in October 2010, it has grown into a loved method of sharing photographs, and is now available on Android phones as well as the iPhone, gaining 1 million users a day.

Mark Zuckerburg made the following comments about the plans. “We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook.”

Although this is a big step for Instagram, it hasn’t been received well by many users on Twitter. There is an atmosphere of impending doom and a loss of respect according to the comments that have been made. Does this mean bad news for Instagram?