Social media reminds me of the big banks back in the 90′s. Swallowing each other up to make mega-banks…until one is left standing…Highlander style.
I don’t think anyone really understands why Facebook agreed to pay $1 billion …yes $1 billion dollars….to buy Instagram. We all LOVE Instagram, it allows us to turn our crappy iPhone pictures into cool, hip photos. It makes us feel like photographers like Rock Band makes us feel like rock stars.
Instagram is a free app and there is no ad placement anywhere or any revenue stream at all. But I suppose the brilliant minds at Facebook want to change all that. My only reason in writing this post was to say this really; Facebook….please don’t F-up Instagram.
Cnet.com says Mark Zuckerberg and co. thinks it’s all about Instagram being a mobile platform. Apparently that’s where it’s at these days.
My colleague Rafe Needleman and others argue that mobile engagement is the biggest reason Facebook lusts after Instagram. A large (and growing) and super-engaged mobile audience and decent mobile uploading (which Facebook still lacks, for some reason): that mustbe it. Mobile is where it’s at, after all: go mobile or die.