Facebook just bought Instagram for $1 billion in cash and stock. This makes sense because Facebook's mobile products are slow and painful to use. I just saw this on Zuckerberg post.. In a post on his profile page, Facebook’s chief Mark Zuckerberg said Instagram would continue to work with rival social networks. That will allow users to post on other services, follow users outside of Facebook, and to opt out of sharing on Facebook. Since his facebook post is loading rather slow, here is another source from the NYTimes.