With Instagram Buy, Mark Zuckerberg Shifts Facebook Into Acquisition Mode

By Kofi Bofah:I recently opined, in this April 8, 2012 article, that I expected this looming Facebook (FB) initial public offering to be a train wreck for small, retail investors. I argued that Facebook would be coming to market amid a perfect storm of cheap money, irrational exuberance, and slap happy promotion.

Facebook is holding a big press conference today at its Menlo Park headquarters. We'll have live coverage out the wazoo. No one really knows what it will announce. But we do know something it needs to announce. Something cool.

In negotiations to buy the photo sharing service Instagram, the parties are said to have valued Facebook at roughly $104 billion, which could offer insight the potential for the social network's highly anticipated initial public offering.

Facebook today announced that it has agreed to acquire the photo-sharing app Instagram for $1 billion in cash and stock. The deal is expected to close later in the June quarter. The company said it will continue to make the service accessible separately from Facebook. The deal comes with Facebook in registration for an IPO ...