SEATTLE – Is the fate of the popular smart phone photo sharing app Instagram already sealed?
Rumors have been swirling since Facebook acquired the small startup company for $1-billion earlier this year.
Today Facebook CEO Mark Zuckerberg was asked about Instagram in the wake of his company’s first earnings report since going public.
"Most of our acquisitions are for talent, and Instagram fits in with that sort of acquisition," said Zuckerberg.
In May Facebook released its own photo sharing mobile app. To date, that app has failed to garner much love from critics or users.
However shortly before Facebook announced its earnings, Instagram issued a statement saying it had passed the 80-million user mark. That news comes less than three months after Instagram announced it had passed the 50-million user mark.
Still when the news that Instagram was being acquired broke, the Associated Press reported that Facebook was seriously considering closing the photo sharing app sometime this year.