Mark Zuckerberg’s magic says it all – The latest report of Instagram, an app solely for mobile devices, states that it has 80 million users as of now, when compared to 30 million in the month of April. It means that Instagram is attracting users at a mind-boggling rate of 10 million users per month.
This is a pot at the end of a rainbow for acquirer Facebook Inc(NASDAQ:FB) , because their first earnings report as a public company was disappointing to say the least. The tremendous growth rate at Instagram might be why Facebook has to shell out 1 billion for the acquisition.
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Instagram was launched back in October 2010, and if latest reports are to be believed almost 4 billion images have been shared till date. Earlier, Instagram was available to only iOS users, but now it can be accessed by Android users as well, due to its expansion from one platform to two.
Facebook is still fuzzy and uncertain as to how they can make money from its ever increasing database of mobile users. This is an issue that has been plaguing the team for sometime now and Instagram could well be the solution that they are looking for. It can act as the medium for augmenting mobile initiatives of Facebook irrespective of the fact if they are ecommerce or advertising related, thereby making their presence felt even more among users.
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News on SlashGear is clear that Twitter has modified API restrictions for Instagram and has done away with the “Find Your Friends” facility offered by it before. There are varied opinions on this such as this measure being taken due to bandwidth considerations, but the buzz is that it is Twitter’s “tit for tat” policy for Facebook, for the latter blocking the former’s access to Facebook’s Friend Finder in June 2010.