Instagram launched in March of 2010, and was acquired by Facebook for $1 billion this week. Over 17 months, the company built itself up, gaining millions of users on iPhone and Android smartphones all around the world.
A former Justice lawyer and antitrust expert says Facebook’s purchase of photo-sharing site Instagram will take between 4 months and one year to clear regulatory hurdles. In the meantime, the deal is effectively on hold.
Facebook just bought Instagram for $1 billion in cash and stock. Instagram is a mobile-only photo-sharing app. It grew from 1 million users in January 2011 to 15 million in December 2011. It has 30 million users now.