There is no need for Facebook to wait for its initial public offering to make its first huge purchase.
The social network giant, Facebook has purchased Instagram, the popular photo-sharing application, for about $1 billion in cash and stock, the company...
OFFICIAL STATEMENT from Mark Zuckerberg can be read here:
https://www.facebook.com/zuck/posts/10100318398827991
(NYT article here: http://dealbook.nytimes.com/2012/04/09/facebook-buys-instagram-for-1-billion/)
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