Breaking News! Facebook is buying instagram

Mark Zuckerberg just announced that Facebook has agreed to buy mega-popular photo sharing service Instagram for $1 billion. Facebook's been on a buying spree of late, and has been beefing up its own already-ubiquitous photo sharing service lately as well. But it looks like it just landed a whale.
Facebook is already one of the biggest photo sharing destinations on the web. Everyone's on Facebook, and so are all their pictures. But Instagram isn't just another photo sharing service; it's basically everyone's favorite little social network. And unlike Twitter, the last little social network that didn't stay little, Facebook's nipping Instagram in the bud before it takes on a life of its own.