The popular website Instagram is being offered by Facebook a ton of cash. $1 billion to be exact. Facebook made a public offering to Instagram to buy the site. It is reported that Facebook will pay in a combination of cash and stock for Instagram.

“I’m excited to share the news that we’ve agreed to acquire Instagram and that their talented team will be joining Facebook,” Facebook’s Mark Zuckerberg said in a posting on Facebook Monday. The deal is expected to close later this quarter.

“For years, we’ve focused on building the best experience for sharing photos with your friends and family. Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests”, Zuckerberg said.

Last year, Facebook was actually planning on adding filters for images just like Instagram is doing to try to get users to use Facebook instead of Instagram. Now they won’t have to worry about it. Just buy the leading picture competition.

“We’re psyched to be joining Facebook and are excited to build a better Instagram for everyone,” said Instagram CEO Kevin Systrom in a statement.

“The Instagram app will still be the same one you know and love. You’ll still have all the same people you follow and that follow you.You’ll still be able to share to other social networks. And you’ll still have all the other features that make the app so fun and unique,” Systrom said.

After this deal happens, it will help drive up Facebook’s value to get Facebook’s worth to over $100 billion sometime this May or June.