Facebook is close to complete their acquisition of Instagram. They have now received the go-ahead from the US Federal Trade Commission.
The deal was originally worth around USD 1 billion but the dropping stock price of Facebook means that it is now priced at around USD 747 million.
Instagram founders would get USD 300 in cash along with 23 million shares of Facebook.
Lots of people have criticized this deal because Instagram does not have any revenue model right now. It is a loss making venture and is likely to remain. It is very hard to monetize a photo sharing platform.
Remains to be seen if the deal is worth the price for Facebook.