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Facebook dropped a bombshell this morning when it announced it will acquire Instagram for a whopping $1 billion in cash and stock. Instagram has quickly become king of the mobile photo-sharing space with an iPhone app (and a new Android version) that enables users to tweak their photos and share them through social networks such as Facebook and Twitter. The big question, then, is how Facebook leverages their new pick-up and makes it their own without sacrificing the interoperability that has been key to Instagram’s success.