Facebook has agreed to acquire photo sharing service Instagram. Two-year-old Instagram offers iOS and Android apps for taking photos, adding effects and then sharing the results online.
Instagram is expected to continue as an independent application.
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Instagram, the free iPhone photo-editing application launched last October, has announced that more than 150 million photos have now been shared via the service.
It means the company's 7 million users are sharing photos at a rate of 15 photos per second.
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