Facebook has bought the photo sharing company ‘Instagram’ for a cool $1 billion in cash and shares.

Instagram was founded two years ago by Kevin Systrom and Mike Kreiger and is at present a profitless set-up with some ten employees. It does th<img src="http://feeds.feedburner.com/~r/TheEconomicVoiceScienceTechnologyEnvironment/~4/qVb8QvvKp6g" height="1" width="1"/>

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