InstaFacebookGram: Storified

As you probably saw last week, Facebook opened up its ginormous wallet and bought the immensely popular mobile-based app Instagram for $1 billion.

And the collective social media sphere let out an “Oh, great.”

It was pretty split on whether that remark was uttered with some shred of optimism or if it was said just before a smartphone was hurled into a wall.

Jokes were aplenty, fears that the app would suffer gained notice, and speculation swirled as to what was to come of the app that had just garnered 5 million downloads for Android in just six days.

We’re still on the fence on this one and are anxiously waiting to see how this plays out. Until then, we’ve compiled some of the chatter we saw on social media as this story unfolded last week on Storify.

Check it out here: