Facebook purchased Instagram for 1 billion dollars. (Joanna Stern/ABC News) - ABC News

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Facebook purchased Instagram for 1 billion dollars. (Joanna Stern/ABC News) ABC News When 12-year-old Catherine Moorhead found out about Facebook's acquisition of Instagram she immediately texted her dad. "It ruins the purpose of Instagram! OMGosh!!!!" she typed on her iPhone. Moorehead might be young, but she wasn't the only one ... Facebook Buys Instagram; Microsoft Nabs AOL Patents; New iPhone RumorsPC Magazine From Instagram to MySpace: a guide to hip social startup acquisitionsThe Guardian Instagram for Android app downloaded 5 million times in just 6 daysmsnbc.com Washington Post -Los Angeles Times -Christian Science Monitor all 2,408 news articles »

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