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April 9, 2012, 8:15 PM
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Top News

Mark Zuckerberg / Facebook:
I'm excited to share the news that we've agreed to acquire Instagram  —  I'm excited to share the news that we've agreed to acquire Instagram and that their talented team will be joining Facebook.  For years, we've focused on building the best experience for sharing photos with your friends and family.
Kevin Systrom / Instagram:
Instagram + Facebook  —  When Mike and I started Instagram nearly two years ago, we set out to change and improve the way the world communicates and shares.  We've had an amazing time watching Instagram grow into a vibrant community of people from all around the globe.
Om Malik / GigaOM:
Here is why Facebook bought Instagram  —  You might have heard by now that Facebook has acquired Instagram for nearly a billion dollars in cash and stock.  Incredible, isn't it?  I have received text messages of awe and shock from many people in the Valley, for no one saw this coming.
Kara Swisher / AllThingsD:
Facebook to Acquire Photo-Sharing Start-Up Instagram for $1B  —  Facebook has just announced that it will acquire Instagram, the popular photo-sharing service for $1 billion in cash and shares.  —  The social networking site posted on the acquisition, its biggest yet, on its site …
Alexia Tsotsis / TechCrunch:
Right Before Acquisition, Instagram Closed $50M At A $500M Valuation From Sequoia, Thrive, Greylock And Benchmark  —  I'm as shocked as you are, namely because I was working on this as a funding story all morning.  Anyways, right before its billion dollar acquisition from Facebook …
Dan Primack / Fortune:
Did Facebook panic?  —  Why Facebook is buying Instagram.  —  Last week, mobile photo-sharing site Instagram raised $50 million from venture capitalists at a $500 million valuation.  Today, the company agreed to be acquired for $1 billion by Facebook.  —  So what happened in the intervening days?
Mike Isaac / Wired:
Exclusive: Facebook Deal Nets Instagram CEO $400 Million  —  Facebook's acquisition of the immensely popular photo-sharing service Instagram for $1 billion is far and away the largest acquisition in the history of the world's largest social network.  But for CEO Kevin Systrom and company, it's a windfall payday like none other.
Peter Kafka / AllThingsD:
Attention Marc Andreessen: Microsoft Just Bought (Part Of) Netscape  —  Here's a deal that would have made many minds explode back in the 1990s: Microsoft is buying Netscape.  Or at least, most of the important parts of the company that used to be synonymous with “Internet”.
Ingrid Lunden / TechCrunch:
AOL Sells 800 Patents For $1 Billion To Microsoft [Memo To Staff]  —  This just in: one chapter of AOL's patent journey is coming to an end.  The company is selling 800 patents to Microsoft for just north of $1 billion.  —  Tim Armstrong, the CEO of AOL, says that the company will continue …
Dave Thier / Forbes:
Computer Legend and Gaming Pioneer Jack Tramiel Dies at Age 83  —  Jack Tramiel, founder of Commodore International and crucial figure in the early history of video games, died passed away surrounded by his family on Sunday, his family confirms.  He was 83 years old.
Nicholas Carlson / Business Insider:
Before OMGPOP Sold For $210 Million, The CEO Hired Back Everyone He Laid Off And Made Sure They Cashed In  —  A few months ago, OMGPOP was about to go bust.  —  Its Facebook games weren't performing and prospects were so bleak, CEO Dan Porter was forced to lay off several of the startup's flash developers.
John Paczkowski / AllThingsD:
Analyst Cuts Apple Rating on Prospect of iPhone Subsidy Revolt  —  Now here are two words you don't often see in the same sentence: Apple and downgrade.  Yet here they are in a note from BTIG Research's Walter Piecyk, who this morning cut his rating on the company's shares to “neutral” from “buy.”
Brian X. Chen / Bits:
Marriott Says It Stopped Ad Service Hidden in Wi-Fi  —  Last week, the Courtyard Marriott hotel in Midtown Manhattan was discovered to come with some hidden extras: The free Wi-Fi connection inserted lines of code for serving special ads into every Web page a guest visited.
Mark Gurman / 9to5Mac:
Faster iPhone with 1GB of RAM seeded internally, iPod touch 5,1 in the works?  —  With one iOS device update out of the way for 2012, Apple is working on updates to the iPhone and iPod touch.  While these updates are expected, we've learned some details about this new iPhone and iPod touch.
Tricia Duryee / AllThingsD:
Exclusive: PayPal's VP of Product Sam Shrauger Resigns — Is He Headed for Yahoo?  (Memo)  —  A PayPal spokesperson has confirmed to All Things D that Sam Shrauger, the VP of global product and experience, is leaving the company.  —  “After eight years at PayPal, Sam has decided to leave the company.
Tricia Duryee / AllThingsD:
Woof!  Rover.com Fetches $3.4 Million to Be Airbnb for Dogs.  —  Rover.com has raised $3.4 million to be the Airbnb of the dog-boarding market.  —  Rover is an alternative to dog kennels, much like how Airbnb offers an alternative to staying in hotels.  —  In addition to announcing …
More: Bits and TechCrunch
Jeff John Roberts / paidContent:
New Groupon lawsuit targets execs, seeks board seats for shareholders  —  The lawsuits are coming fast and furious against Groupon after the daily deal site admitted to dodgy accounting tactics in a recent SEC filing.  —  The latest complaint is a so-called “derivative suit” …
More: CNET
Terry Baynes / Reuters:
Court revives Rosetta Stone suit vs Google  —  (Reuters) - A federal appeals court on Monday revived the bulk of language-software maker Rosetta Stone Inc's trademark infringement suit against Google Inc.  —  In the suit filed in 2009, Rosetta Stone accused Google of committing trademark infringement …
Bloomberg:
RIM Says Sales to U.S. Government Are Rising  —  Research In Motion Ltd. (RIM) said sales to U.S. federal agencies are rising and the BlackBerry is still a White House fixture, a bright spot for a company struggling with plunging demand amid competition from the iPhone.
More: AllThingsD, MacNN and CNET.  Tweets: @evankirstel
Peter Kafka / AllThingsD:
Netflix Says Its PAC Is Not About SOPA  —  From the “yes, sometimes big companies like to influence the way government works” file: After a day of not commenting about its newly formed political action committee, Netflix has come out with a statement about FLIXPAC, after all.

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From Mediagazer

Wall Street Journal:
Sources: Paramount offers $15M to settle with President Trump, whose team wants $25M+, is seeking an apology from CBS News, and threatened another lawsuit

Ben Johansen / Politico:
Sources: all 800 full-time VOA staff are expected to receive reduction-in-force notices this week, after ~600 VOA contractors were dismissed earlier in May

INN News:
Survey: local news outlets make up 51% of INN's 500 members, digital-first outlets employ ~3,200 journalists, foundation funding is 49% of revenue, and more

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