Facebook is buying Instagram, according to thispost today from Mark Zuckerberg. The purchase price of $1 billion will be paid in cash and Facebook shares. From the blog post: 
"This is an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users. We don’t plan on doing many more of these, if any at all. But providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together". READ MORE
