Instagram is now part of FacebookSeptember 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.
- Facebook buys Instagram for $1 bn (Lead) - Apr 10, 2012
- Facebook to buy Instagram for $1 bn - Apr 10, 2012
- Facebook acquires Instagram for $1 billion - Apr 10, 2012
- US stocks rebound to start week - May 22, 2012
- Google acquires Nik Software - Sep 18, 2012
- Google buys Instagram rival Snapseed - Sep 18, 2012
- China's vehicle sales to hit 23 mn units by 2015 - Apr 19, 2011
- Microsoft reports first loss in 26 years - Jul 20, 2012
- Wall Street extends loss - May 18, 2012
- Facebook plans to go public to raise $87bn - May 04, 2012
- Facebook set to raise $16 bn with largest tech IPO - May 18, 2012
- Sensex rises 17 points; oil, gas, power stocks up - Jun 26, 2012
- Facebook stock hits a new low of $24 - Jul 27, 2012
- Facebook files for $5 bn IPO - Feb 02, 2012
- Mobile device sales in India to reach 231 mn - Nov 22, 2011