The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( TheStreet) -- Facebook has acquired Instagram, an extremely popular mobile photo-sharing platform for $1 billion in cash and equity. Instagram was a 15-month-old startup which had attracted more than 30 million users on Apple's (AAPL) iOS in less than 15 months, and more than a million users on Google's (GOOG) Android in a day following the launch of its app on the platform. While it was still quite small compared to Facebook or Yahoo's (YHOO) Flickr, the top image sharing platforms on the Web, it was growing incredibly fast, and continued to see high user-engagement levels despite the presence of scores of similar services.
Facebook Moves to Secure Online Pics Leadership
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