Facebook buys Instagram
This is basically what has happened.
“The real news of this deal is that it should be taken as a sign that Facebook thinks that its own $75-100B valuation is (very?) high. Facebook is paying for the deal in cash and its own stock, but is refusing to disclose what the cash/stock ratio is. This means that it is very likely paying for a substantial, if not most, of the deal with it’s stock.” via reddit.