You might have heard by now that Facebook has acquired Instagram for nearly a billion dollars in cash and stock. Incredible, isn't it? I have received text messages of awe and shock from many people in the Valley, for no one saw this coming.
A few days ago it was rumored to be valued at $500 million. A few months ago it was $300 million.
And I got the answer of why the hell Facebook did such a big deal for just an App.
