Mark Zuckerberg just posted on his blog 2 hours ago that Facebook are buying Instagram to in order to “offer the best experiences for sharing beautiful mobile photos with people based on your interests”. Right after Instagram CEO, Kevin Systrom, posted it on his blog, too .
So let’s list 10 cool facts about this big story:
- This is biggest M&A Facebook has ever done, paying a BILLION dollars for a company with 30M daily active users. Mark says “this is an important milestone for Facebook because it’s the first time we’ve ever acquired a product and company with so many users. We don’t plan on doing many more of these, if any at all”.
- Instagram had “27 million registered users on iOS alone…Instagram was increasingly positioning itself as a social network in its own right ” (Techcrunch)
- Instagram was launched on 6th of October 2010, less than 18 month ago. (Techcrunch)
- I just need to quote mashable.com/2012/04/09/facebook-instagram-buy/
- Instagram doesn’t make any money. Nor did it say it was focusing on revenue. (Forbes)
- Instagram is a pivotal-pivot it started as something completely different, ” Systrom revealed that he and co-founder Mike Krieger actually put in about a year’s worth of work into Burbn“, They decided to ditch the old project and start Instagram, and 8 weeks later launched .
- In less than 11 minutes, more than 34,000 people had “liked” Zuckerberg’s announcement of the deal. That’s a new metric of main street.
- “facebook instagram billion” query on google has 5,240,000 results 2 hours after the announcement
- gigaom.com here-is-why-did-facebook-bought-instagram Facebook was scared shitless and knew that for first time in its life it arguably had a competitor … Why? Because Facebook is essentially about photos (Fred Wilson:Facebook Is Just A ‘Photo-Sharing Site’)
- I never found the time to install Instagram, nor do most of the people I know.
After the Facebook IPO, any social service with 20M+ users (keeping its DAU high) is going to be up for grabs for the Facebook/Google battle. We need only 17M+ users on eToro 🙂