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Facebook Finally Has a Mobile Strategy

And it’s called Instagram.

In a status update today, Mark Zuckerberg announced that his company has bought Instagram for a tidy sum of 1 Billion dollars. Billion.

Besides the fact that this is higher than the market cap of the The New York Times, a 150 year old company, it’s also the highest price acquisition Facebook has made to date.

Instagram is a small startup that employs just 13 people. However, they have built a killer mobile app that people love engaging with. In contrast to Facebook, Instagram is a service designed to be mobile first.

Facebook have struggled to create an app people love. Their mobile experience is often bloated, buggy and currently has 2 stars in the App Store. With Instagram, they’ve essentially bought themselves a mobile strategy.

Combining this with the Instagram Android release, hipsters everywhere are crying into their chai lattes and ironic t-shirts.