Facebook has finally completed its acquisition of photo-sharing application Instagram, close to five months after the deal was first announced and two weeks since it earned Federal Trade Commission approval. Facebook initially agreed to pay $1 billion for Instagram, an offer comprised of $300 million in cash and close to 23 million shares of Facebook stock, valued at $30 per share when the acquisition was first announced in April 2012. Facebook went public a month later, but its stock price has taken a beating over concerns the company has failed to install a viable long-term monetization model. The Associated Press reports that the acquisition formally closed on Aug. 31, at which time Facebook stock was trading at $18.06, which values the Instagram deal at $715.3 million. Facebook and Instagram did not divulge the final financial terms