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Facebook likes Karma app, buys the whole darn thing
What does one do after generating billions from an initial public stock offering? Go shopping, of course. After falling short of expectations following its somewhat helter-skelter IPO debut, Facebook simply shook off the whole thing and acquired itself some good Karma. No, we're not talking about that Karma. Instead, Facebook purchased the startup responsible for the Karma social gifting app. The move was apparently made to bolster Facebook's mobile chops -- an area the company considers ripe for opportunity. Just recently, Facebook also acquired mobile stalwart Instagram and the Lightbox team, for example. As for its newest purchase, Karma will be allowed to "continue to operate in full force" despite its recent status change, according to a blog post by co-founders Lee Linden and Ben Lewis. Details weren't disclosed about how much the deal was worth but judging from celebratory nature of their post, it doesn't look like Linden and Lewis will "Unlike" the agreement any time soon.
Facebook to buy Instagram
How's this for some big news on an otherwise slow Monday? Facebook CEO Mark Zuckerberg has let slip that his company plans to buy popular photo-sharing app Instagram (pending all of the standard regulatory approvals, naturally). According to a report from All Things D's Kara Swisher, Facebook will pick up the social app, which got its own long-awaited Android version, for a cool $1 billion in cash and shares. Ole Zuck confirmed the news on his personal blog, adding that the deal won't affect Instagram's integration with competing social networks: We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook. Instagram CEO Kevin Systrom confirmed via his site's blog that the service, "is not going away," adding, "The Instagram app will still be the same one you know and love." Check out some PR on the subject after the break.
