Apr 9, 2012, 23:06
Instagram is pretty popular in the iPhone (and recently Android) world as well - basically it's an app which allows you to apply vintage effects to photos and also publish it to an online stream. I use it myself and it's a nice and simple way to make your camera phone images to "pop" although I'm sure it will make many purists grind their teeth.
Anyway, Facebook obviously sees a lot of potential for Instagram, so much so that they have paid 1 Billion (yes BILLION) to acquire the company.
My mind can't even begin to fathom how an app that exists in the "virtual" or online space can be worth that much. To put it into perspective, it's enough to purchase the ailing Kodak company, 12 times over! It is true that the company is facing bankruptcy and all that but it's an actual company with bricks and mortar factories, over 7600 staff and plenty of intellectual property in its portfolio the form of patents and research - vs a tiny application which may or may not exist in a couple of years once the hype dies down.
Anyway, you'd be laughing all the way to the bank now if you were the creator or founder of such an app...
Anyway, Facebook obviously sees a lot of potential for Instagram, so much so that they have paid 1 Billion (yes BILLION) to acquire the company.
My mind can't even begin to fathom how an app that exists in the "virtual" or online space can be worth that much. To put it into perspective, it's enough to purchase the ailing Kodak company, 12 times over! It is true that the company is facing bankruptcy and all that but it's an actual company with bricks and mortar factories, over 7600 staff and plenty of intellectual property in its portfolio the form of patents and research - vs a tiny application which may or may not exist in a couple of years once the hype dies down.
Anyway, you'd be laughing all the way to the bank now if you were the creator or founder of such an app...
)
