The U.S. Federal Trade Commission has cleared Facebook's proposed acquisition of mobile photo-sharing service Instagram in a unanimous vote. The clearance, which comes about a week after the U.K. Office of Fair Trading cleared the deal, paves the way for Facebook to complete the acquisition of the online photo-sharing company. Facebook announced in April that it was buying Instagram for US$1 billion in cash and stock. It subsequently clarified that it would pay $300 million in cash and close to 23 million shares of its common stock. The value of the equity component of the final purchase price will be determined for accounting purposes based on the fair value of our common stock on the closing date. At current prices of its shares, which have seen a drop, the deal could be more in the $747 million range. Instagram was launched in 2010, Instagram and got more than 50 million users. Moreover according to the recent studies, most famous brands of the world use Instagram in their marketing strategies.