Facebook buys instagram

• Instagram, an Internet start-up in San Francisco, has no revenue and about a dozen employees. It has not yet celebrated its second birthday. But to Facebook, it is already worth a billion dollars.
(New York Times Blogs)
• Today: Facebook agrees to buy photo-sharing app Instagram for $1 billion in move reminiscent of Googles (GOOG) purchase of YouTube.
(San Jose Mercury News)
• Not since Google bought YouTube has an acquisition grabbed the worlds attention the way Facebooks $1-billion deal to buy Instagram. And its bound to get tongues wagging again about startup valuations shooting into the stratosphere.
(Los Angeles Times)
• The social networking giant has reached an agreement to buy Instagram for $1 billion in cash and stock. That means even before it launches its massive IPO, Facebook is using its market wealth to grow.
(Wall Street Journal)
• Instagram is one of a cohort of young startups that have built products around smartphones and have registered incredibly fast growth in a short period of time.
(Wall Street Journal)
• NEW YORK — Facebook is spending $1 billion to buy the photo-sharing company Instagram in the social network's largest acquisition ever. On the surface, that's a huge sum for a tiny startup that has a handful of employees and no way to make money.
(Worcester Telegram & Gazette)
• Facebook is buying Instagram, according to this post today from Mark Zuckerberg. The purchase price of $1 billion will be paid in cash and Facebook shares.
(Forbes)
• Instagrams Exploding, Adds a Million Android Users in 12 Hours and Raising $50 Million Anthony Wing Kosner Contributor More than that, it's a jolting departure from its walled-garden strategy.
(Forbes)
• Facebook announced Monday that it will buy Instagram, a popular mobile-only photo-sharing app, for $1 billion.
(Yahoo Finance)
• But Instagram also appears to be just the type of acquisition But it's worth keeping in mind as Facebook buys a company at what is reportedly double the value other investors thought it was worth just days earlier.
(Wall Street Journal)