Facegram or Instabook? Facebook Buys Photo App Instagram [VIDEO]

Are you a fan of Instagram? How about Facebook? If so, you're in luck.

Facebook bought the popular 2-year-old photo sharing app for a cool $1 billion on Monday. Facebook, seeing the rise of the popular app, decided to buy what was quickly becoming a competitor.

While many Instagram fans took to Twitter to vent outrage at the deal, it's likely smart for Facebook and a nice payday for the guys at Instagram, and they all get jobs at Facebook.