It has been announced that Facebook has agreed to purchase Instagram for a reported $1 billion. Facebook, the largest social network, attempted to buy the photo-sharing service in the past, but it was not until now that an agreement was made between both companies. "For years, we've focused on building the best experience for sharing photos with your friends and family. Now, we'll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests," Facebook CEO Mark Zuckerberg wrote on his page.

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