Instagram, the photo-sharing service from Facebook and the ad major Omnicom, have struck in deal, reportedly worth $100 million.
The mega social networking site hasn’t revealed any details about the deal. However, some online reports indicated that the deal could be in the region of $100 million. Omnicom is a big player in the ad agency industry.
The director of market operations of Facebook, Jim Squires said that “Omnicom shares our passion for and understanding of the mobile Instagram community.” The statement was a part of the email reply that Jim Squires gave when replying to a query by AFP, a news agency.
He further said that the team of Facebook and Omnicom would work together for developing and executing the campaigns that would be worthwhile for the advertisers as well as make available some astonishing imagery.
The advertising strategy with Instagram will be the same and will go on to display a limited number of videos and images from those brands that have established themselves on Instagram.
Facebook had bought Instagram in 2012 for $1 billion. Instagram started to display ads in the month of November even as Facebook started to make money from the photo sharing service. Money transfer web site PayPal, Lexus, Adidas, Burberry apart from Ben & Jerry’s ice cream are some of the popular advertisers on Instagram.
Facebook is taking it step by step as it adds magazine-quality images’ ads to Instagram making sure that they aren’t pushing away the users.