Today, Facebook and Instagram both acknowledge on their respective blogs that Facebook’s acquisition of Instagram is finally complete. The California Department of Corporations and the Federal Trade Commission both approved the deal and now the Instagram team will pack its bags as prepare to move into the Facebook corporate offices located in Menlo Park, California.
“So many of us at Facebook love using Instagram to share moments with our friends,” Mike Schroepfer, Facebook’s vice president of engineering, wrote in the post. “And for so many people, sharing photos with friends is an important part of the Facebook experience. That’s why we’re so excited to bring Instagram to Facebook and see what we can create together.”
The deal, worth $1 billion, was first announced back in April of this year and it would allow Facebook to take control of the two year old company, who has already had over 5 billion pictures uploaded, and incorporate the service into the Facebook social network.
Let’s hope the team enjoys working at Facebook so this deal doesn’t mean the end of a great app.