You can relax, Instagram isn't selling your photos, the service claims.
In a followup blog post, Instagram pointed out that "legal documents are easy to misinterpret," in essence playing the "It's not what it looks like" card (that never works).
"Advertising is one of many ways that Instagram can become a self-sustaining business, but not the only one. Our intention in updating the terms was to communicate that we’d like to experiment with innovative advertising that feels appropriate on Instagram," said Kevin Systrom, co-founder of Instagram. "Instead it was interpreted by many that we were going to sell your photos to others without any compensation. This is not true and it is our mistake that this language is confusing. To be clear: it is not our intention to sell your photos. We are working on updated language in the terms to make sure this is clear."
Systrom also said that Instagram's users own their content, clarifying that "Instagram does not claim any ownership over your photos." He also said that one of the reasons the changes outlined earlier this week wouldn't go into effect until next month is that he and his team wanted to make sure the Internet community had an opportunity to raise any concerns.