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.
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