Facebook buys Instagram for $1 billion

Woah! Out of nowhere, Facebook has acquired Instagram for $1 billion. The compensation is in cash and stocks. Instagram will however remain a standalone app from Facebook but they will be integrated sometime in the future. The transaction should go through this quarter pending some standard closing procedures. Instagram has 27 million registered users on iOS devices … Continue reading

Flipkart buys LetsBuy

The Indian ecommerce giant has reportedly bought its close rival LetsBuy. The deal is not yet confirmed but it is believed that it would be   somewhere between $20-$30 million. It is also speculated that the deal was forced by Investors as the prime and major investor in – Tiger Global withdrew support for LetsBuy. … Continue reading