Facestagram: $1 billion for a bunch of filters?

If you heard a loud bang yesterday, it was probably the sound of the Internet exploding as the news of Facebook’s most recent purchase reached the tech community. Twitter was awash with comments, and every tech news source – from Mashable to GigaOm – was clamouring to document their take on Facebook dropping  $1 billion for Instagram. Thats $1,000,000,000; enough to buy 200,000,000 kodak disposable cameras and take 5,400,000,000 grainy pictures. (Assuming you spend about $5 and have 27 exposures) Bargain.

Only a week after Instagram was made available on the Android marketplace (and was positively eaten alive by ‘Droid users) this most recent news is one step too far for many of the original iPhone Instagrammers, who feel that their private community has been desecrated by the influx of new users.

The news have left some wondering if this will mark the end of the simplicity of instagram, which is its most appealing aspects. That, and the privacy iPhone users had in their small gated community before their photos were opened up to the world.

So, here’s a round-up of some of the coverage the recent acquisition has received so far:

Mashable pleaded with Facebook to not change a thing; which seems unlikely. I imaging that this acquisition will open up Instagram to everyone, and allow them to add filters to their existing Facebook photos.

TechCrunch reported on the Twitterverse overreaction and backlash to the acquisition, as always, you can reply on Twitter to be unnecessarily harsh.

ReadWriteWeb looked past the hype and reported on the actual business sense of it all.

Business Insider compiled this collection of hilarious Twitter reactions to the Instagram/ Facebook deal.

And finally, recognising the potential for a sudden fall in Instagram users, Mashable compiled this guide to saving your photos and deleting your account.

What do you think of the acquisition? Will the changes to the user experience be noticeable? What could Facebook do to keep this deal sweet for all involved?