Photosharing site Instagram purchased by Facebook, Instagram company valued at over $1 billion USD.
The digital age is truly full of financial wonders. None of the powers behind Instagram, a photosharing site that took off in popularity, would have dreamed that their company would quickly shoot up to $1 billion in value in less than a year. And let’s get something straight: the New York Times, perhaps America’s premier liberal newspaper, is only worth slightly less than a billion dollars. And that paper has been around for longer than 150 years.
The Facebook acquisition of Instagram has many developers encouraged. Just how easy is it to make profit in an age where merchandise and shipment of product is measured in bandwith and end user experience? Instagram shows whatever is trendy and can provide easy networking can pay off big.
Many users of Instagram and critics of Facebook’s purchase worry that the social network giant will ruin the easy-to-use, networked nature of Instagram. That remains to be seen. With the quick rise of Pinterest to the number 3 site in the world, who knows how long Facebook’s reign will last. One thing is for sure: big congratulations to the people behind Instagram. Let’s guess the Instagram clone market is on the rise.