Remember that cool Instagram app that finally ported over to Android? Remember all the hype about it and how most of your friends were already on it? Remember how easy it was to take a picture with it, add effects and share it?
Well Instagram just sold to Facebook for 1 billion dollars. No, I’m not making this up and no I am not happy about this. Of course I understand the logic: If you can’t beat ‘em, Buy ‘em. After seeing Instagram skyrocket to fame this quick, it’s only right that somebody try to buy them.
How does it affect us the consumer? Don’t expect Instagram to exist for too much longer. They paid for the developers but the app is in direct competition with their own Facebook app. Yes they’ve kept Friendfeed alive but Friendfeed was never a threat, mobile apps like Instagram are. I’m surprised Pinterest has lasted this long too. Being the number three Social network this quickly rings a lot bells.
Oh well. Enjoy your little iOS/Android picture sharing app while you can. Tomorrow is not promised… Here’s the link for perhaps one last time. (Ironically Mark Zuckerberg says they won’t change a thing, read it here.)
Read Did Facebook panic? – The Term Sheet: Fortune’s deals blog Term Sheet.
Recent Comments