Meta Platforms acquires Instagram, Inc.

Meta Platforms acquired Instagram, Inc. for ~$1 billion, a transaction completed in September 2012, structured as combination (cash and stock).

Instagram, Inc. operates in Family of Apps, is based in San Francisco, California, USA. Instagram is a mobile photo-sharing service that, at the time of the deal, had over 100 million registered users. Facebook acquired it to strengthen its photo-sharing products and deepen mobile engagement, while letting the Instagram team continue to operate and grow the app. The acquisition was Facebook's largest to that point and closed shortly after its May 2012 IPO.

Facebook framed the deal as a way to build the best experiences for sharing photos on mobile while keeping Instagram running and growing independently.

I'm excited to share the news that we've agreed to acquire Instagram and that their talented team will be joining Facebook.Mark Zuckerberg, Founder and CEO, Facebook

Advisory firms were not disclosed for this transaction.

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