Social networking giant Facebook has bought software company Instagram for $1-billion (U.S.).

Instagram is a free photo-sharing application that allows users to apply filters to their photos and then share those images on various social networks.

Facebook founder Mark Zuckerberg made the announcement via the social networking site Monday, writing “we’re committed to building and growing Instagram independently.”

He wrote they are running Instagram independently of Facebook and are planning on keeping the feature that allows users to post their images on any social networking site, even excluding Facebook if they choose.