Whoa, big news coming out today. Facebook has officially announced that it will be acquiring Instagram for $1 billion. Last week when Instagram announced their app for Android phones they saw 1 million users join in just 12 hours. The most amazing part is that this startup company only has 13 employees, that’s going to be a nice check to split up. It’s going to be interesting to see how Facebook takes this app and blows it up. This is Facebook’s largest purchase thus far so hopefully it all works out. In my opinion I would have kept growing since Instagram is such a fun app, but a $1 Billion check would be tough to turn down. Instagram was also valued at $500 million last week by investors, shows how much they know. Come up!