Facebook have snapped up the hugely popular photo-sharing app Instagram on Monday, for roughly $1 billion in a combination of cash and stock. The sale is expected to close later this quarter, and will bring the nine-person staff of Instagram to the social network.
Astonishingly, Facebook users already upload an average of more than 250 million images daily, making it the most popular photo-sharing service on the Web. Yet, it’s not the best by far and not the most mobile, which is probably Facebook’s biggest weakness but it has been accomplished by many others, especially Instagram.
Photos are what allowed Facebook to grow so quickly and what made it more than just a blue sea of text and links to consumers. Its new Timeline depends on big, pretty photos and Facebook even recently announced that it would allow full-screen viewing of high-resolution photos on its site.
So, maybe it was inevitable that Zuckerberg would pay up for Instagram!
Why did this happen?
Instagram is a likeable, popular product, it’s simple and easy to use and it does one thing really really well, better than anybody else.
They already have an engaged community of over 19 million people and they just launched on Android last week. It plays well with others and allows you to share your pictures on a variety of networks seamlessly. It encourages comments and likes. It doesn’t try to be everything to everyone.
What does this mean?
Mark Zuckerberg said Facebook is acquiring a talented team and an amazing product. Kevin Systrom said their hope is to create a better Instagram while continuing to have it function as a stand alone product. To me, this proves one thing above all: we should all strive to create great products for the masses and hope that either Facebook, Twitter or Google will come and purchase it for a substantial amount of money.