-
Facebook to buy Instagram for $1 billion
New York -- Facebook will purchase the photo-sharing application Instagram for about $1 billion in cash and stock, company CEO Mark Zuckerberg said Monday. The deal, which is the social-networking company’s largest acquisition to date, is expected to close later this quarter.
Instagram was named iPhone app of the year in 2011.
Facebook will acquire Instagram's entire team as part of the deal.
-
RadioShack selects lead advertising agency
Fort Worth, Texas -- RadioShack Corp. said Thursday it has selected Grey New York as its lead advertising agency of record, concluding a review process that first launched last November.
"We're thrilled for the opportunity to collaborate with this team as we continue transforming our brand, with a sharp focus on building consumer awareness of our wireless offering and driving traffic into our stores," said Jim Gooch, president and CEO of RadioShack Corp.