Apr 18, 2012
Facebook has announced it will be acquiring Instagram for cash and equity amounting to one billion dollars. So what is Instagram and is it worth the one billion dollar tag? Time will answer the second question, while we answer the first.
1. Instagram is a free photo sharing app that lets users click pictures from their mobile phones, apply an optional "filter" to the image and share it with their friends via Facebook, Twitter or Instagram's own social network.
2. Instagram launched as an iPhone app in Apple's App Store on October 6, 2010. By December 2010, Instagram had one million registered users. By July 2011, Instagram users had shared over 100 million photographs. It reached 10 million registered users in September that year. The number had hit 30 million by April 2012.
5. Facebook's billion dollar valuation of Instagram makes the less-than-two-year-old startup more valuable than 161-year-old The New York Times Company. The New York Times Company, publisher of media heavyweights like The New York Times, International Herald Tribune and The Boston Globe, amongst others, was valued at 946 million dollars based on yesterday's closing price at the NYSE.via[ndtv]