Posting 3
Topic: Technology
Author: Bianca Bosker
Publication Huffington Post
Date of Publication: April 13, 2012
Length of article: 1 page
Facebook just recently purchased Instagram for a large sum of money... 1 Billion dollars. Why one may ask would Facebook bother with buying a photo sharing app? Well Facebook wanted something that Instagram has very well established sharing photos amonst friends. Instagram has perfected the art of sharing photos from phones as it is very easy to just snap a photo of a building or some flowers. The app designed specifically for phones has helped aid us in the picture status update. Most American's are becoming more addicted to the beautiful moment status update, No risk of typo or thought just in the moment. Facebook relized that what we have in our pockets is what is easy to use and what most people want. There is a lot of backlash of people saying this is maily a "hipster app" but that is also the kind of talk that was going around when twitter first launched. So therefore the dreaminess quality of the app and photos gives it something that is rarely seen on facebook the "look at this" not "look at me."
Conclusion:
Instagram promotes the "wish you were here" kind of images and keeps it happy and promotes well being and they seem to have been able to put a price on that kind of vibe that it gives off. This investement will add value to the company and also help it evolve.
I was stunned when I heard that Facebook bought instagram for 1 billion dollars. One billion. To put that into perspective, the entire New York Times is only worth 950 million, and it's been around for over a century. Instagram is a smartphone app that's only two years young, and has a full-time staff of only six people. I think the only reason Facebook bought instagram is to eliminate the competition in social media, as instagram was the fastest growing social network of 2011.
ReplyDeleteI agree with the article, saying that Instagram was a good buy, such that it is devoted to sharing pictures more so than wordage. Being an Instagram user, I can strongly say that it is a fun way to share your surroundings and perspective with your friends. The "look at this" aspect of the app is what really draws people in. They can edit and adjust their picture in ways that interest their viewers. This purchase is a mutual advantage to both interfaces, such that they will gain each others' users creating a stronger community of 'Instagramers'.
ReplyDelete-Michael W. C Period
The fact that Facebook is a bubble (one very similar to the housing bubble) itself, on the verge of bursting, makes this almost comical. The social networking site spent a billion dollars buying Instagram, an app that is free, has now ads, and no way of producing any income. What does this mean for Facebook? They're making no money off this ridiculous buy, apart from keeping up with the young adults, they gained nothing from purchasing Instagram. Being a Instagram user myself, I won't deny the fact that the app is a cool, innovative, and creative creation but is it worth all of that money? Absolutely not.
ReplyDeleteFacebook is so determined to be the number one social networking in modern society. Instagram was one of the companys that threatened Facebook. So what better way to get rid of your competition is to buy them. I do not use Instagram but alot of my friends do and they love the app. But I don't think facebook should've spent all that money on it.
ReplyDelete