Earlier today, Mark Zuckerberg took to his Facebook page to make a big announcement: as of today, Facebook has acquired Instagram for $1 billion.

It's been a long road for Instagram, the San Francisco-based photo sharing app that first launched in October, 2010, and now that it's under Mark Zuckerberg, Ruler of the Internet's wing, Instagram has the funding and the backing they need to grow faster than ever before.

What this acquisition means for Instagram isn't yet clear. Will Instagram photos now be subject to the same privacy terms as our other Facebook photos? Will Facebook essentially own all of our photos and other content we post to the site? Right now Instagram lacks the stalker-type features that make many people uneasy about Facebook, but there's no word on yet on how many of Facebook's features will be integrated into the app. All we do know is that for now, the Instagram app will maintain the same look that we're used to. But with the way Zuckerberg likes to change things around, there's no saying how long this will last. More»

• Mark Zuckerberg announces Facebook is buying our favorite addiction/photo sharing app, Instagram, for $1 billion to be paid in cash and Facebook stock. [KABC]
• After a bout of career lows, Lamar Odom's time with the Dallas Mavericks comes to a sudden mid-season end after roughly four months since being traded from the Lakers as the franchise renders him inactive for the remainder of the season. [ESPN] More»

-Hillary Clinton brings the sass in her "deal with it" shades via text. [ThoughtCatalog]

-The Olsen Twins don't have time to read the incoherent ramblings of Tyra Banks.  So much so, they donated her gifted copies of "Modelland" to a bookstore.  With personal note from Tyra intact. [Gawker]

-Mattel is getting progressive with a new line of "Presidential Barbies."  You hear that Hillary? [Buzzfeed] More»

If you were on the Westside of L.A. on Saturday night, perhaps you saw a Beverly Hills S.W.A.T. van speeding past you. Did O.J. break out of prison? Another gunfight at the Beverly Center? Both good guesses, but no. The full might of the noble BHPD was, in fact, being brought to bear against an estimated 500 young ruffians who had descended on a Holmby Hills home for a massive Project X-inspired high school house party that would incite an unabashed local media frenzy even though it didn't exactly pan out as planned. And by that, we mean it lasted all of 15 minutes thanks to social media and general teenage idiocy. Let's investigate! More»

Which JewJetter commented this at doorman Alex Julian on Facebook? Click through to find out! More»

For most of us New York City folk, crossing the velvet rope into the hottest club is a moment of pure ecstasy. A moment when you can take a hard look at your life and give yourself a pat on the back for being cool enough (or wealthy enough, if you bribed the bouncer). But as Justin Ross Lee sees it, anyone can sneak into a place, and who cares anyway? What's really important are the places you have been banned from -- the hot spots that when you walk up to the door they take one look at your face and know exactly who you are and tell you to turn around and leave immediately. JRL wears his bans like badges of honor, and offers me a piece of advice, “Embrace your lifetime bans: The only thing better than being able to go anywhere- is not being able to go some places. 86 is my favorite number.” So where has the infamous Facebook Jewjetter been banned from? Click through to see, and find out the one place that JRL would never want to be banned from... [All photos via Facebook]

• Great Odin's raven! Will Farrell confirms (as Ron Burgundy) there will be an Anchorman sequel on Conan O'Brien. [Youtube]
• Our Commander-in-Chief does a better job at being LMFAO than LMFAO. [HuffPost]
• Labia isn't a country, and other important lessons from Facebook. [Buzzfeed] More»