Facebook Acquires Instagram for $1 Billion - Squashing the competition?

[Briggz5d]

About two hours ago - The social media giant "Facebook" announced that it has finalized plans to acquire the rapidly growing photo sharing mobile app company - Instagram for $1 Billion in cash and shares.
Instagram, based in San Francisco — with only 13 employees — had 30 million Apple iPhone users before it came to Google’s Android last week, where it got more than a million new users in just 12 hours.

In two separate messages Facebook CEO - Mark Zuckerberg and CEO of Instagram - Kevin both expressed their excitement on the successful deal.

In a blog post titled “Instagram + Facebook,” Kevin promised no change, except for the $1 billion mountain of cash:

It’s important to be clear that Instagram is not going away. We’ll be working with Facebook to evolve Instagram and build the network. We’ll continue to add new features to the product and find new ways to create a better mobile photos experience.

The Facebook Boss also said:

I'm excited to share the news that we've agreed to acquire Instagram and that their talented team will be joining Facebook....
...We think the fact that Instagram is connected to other services beyond Facebook is an important part of the experience. We plan on keeping features like the ability to post to other social networks, the ability to not share your Instagrams on Facebook if you want, and the ability to have followers and follow people separately from your friends on Facebook...

Critics say Facebook is just afraid of more competition to deal with because it has lost to twitter and yahoo already... When users are on instagram sharing photos, they'll definitely not be on Facebook at that moment.
This is a strategic move on the part of Facebook just as twitter acquired Tweet Deck when it was getting too popular.. Oh well.. the Deal is Done.
Congratulations Instagram