Instagram is now part of Facebook

September 7th, 2012 - 7:42 pm ICT by Aishwarya Bhatt  

New York, Sep 7 (THAINDIAN NEWS) Facebook has finalized a deal with Instagram. This deal has raised the stake of Instagram by leaps and bounds.

The time that the deal was closed it was worth $300 million and this was about 23 million shares. When Facebook was publicized its share price rose to $38.23 as the cost of a share. This then increased its value to an amount of about $1.18 million.

The deal that was closed on the 31st of August saw Facebook part with a share price is $18.06 and this is as per the Associated Press. This placed the shares of the company to a value of nearly $715.36 million.

When Facebook went back to trading it opened the market with one of the lowest market share price of $17.73 for the cost of one share. Instagram, which has now been able to celebrate its success in posting five million photos through its application, has said that it will locate to the offices in Facebook and has also made a comment to its users that it will not change its features.

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