Instagram made it’s debut in October 2010, and has since taken the world of social media by storm. In just two years, Instagram passed the 80 million user mark! The quick adoption, and immediate popularity of the photo-app did not go unnoticed by the the owners of Facebook. On October 24th, 2012 released the final purchase price of Instagram, a whooping $715 Million in Cash and Stock!
- Nothing has changed about your photos’ ownership or who can see them.
- Our updated terms of service help protect you, and prevent spam and abuse as we grow.
While the “Information to be collected” doesn’t vary much from other social media sites, two major spots in intrest in the document are the Section (3) Sharing Your Information and Section (4) “How We Store Your Information”.
Since the recent uproar in the media regarding these changes, Kevin Systrom, co-founder of Instagram, has released a statement. The statement pretty much reads, in a nutshell, chill out folks! Not much is different than the rights we already have…and we weren’t planning on selling your stuff.
Systrom adds the following disclaimer at the end of his message:
“I am grateful to everyone for their feedback and that we have a community that cares so much. We need to be clear about changes we make — this is our responsibility to you. One of the main reasons these documents don’t take effect immediately, but instead 30 days from now, is that we wanted to make sure you had an opportunity to raise any concerns. You’ve done that and are doing that, and that will help us provide the clarity you deserve. Thank you for your help in making sure that Instagram continues to thrive and be a community that we’re all proud of. Please stay tuned for updates coming soon.”
Read the full statement here: http://blog.instagram.com/
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