Facebook announced today via a blog post that they bought the very popular Instagram, the photo sharing service that connects to a variety of social end-points (not to mention has a slew of cool filters).
This is big news, not only because the purchase price was $1billion and stock options, but because Instgram was setting out to be THE leading social app for mobile devices.
It was wildly popular on iOS and just recently, took a stronghold on Android.