UPDATE 2: Huffington Post has edited their original article. They now state that the Instagram app deal will close later this year, not the whole app.
In case you were as baffled when you heard that Facebook purchased Instagram for $1 Billion, you weren’t alone. But news today shows the reason. Facebook has announced their next product: Facebook Camera.
UPDATE 1: Facebook has said that Instagram employees did not work on the new Facebook Camera app as the acquisition is still in process. They also announced that it expects the Instagram app to close sometime this year. Wait, what? The purchase of Instagram looks more and more like just an action to remove a competitor. But because there are so many apps out there, if that really is the reason the purchase can look sort of unnecessary and, well, silly. Unless HuffPost made a major boo boo with their reporting…
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