by Jeanine Vecchiarelli return to JayVee Media Link
Last week’s acquisition of Instagram by Facebook for a cool one billion dollar price tag gave new meaning to the term launching to the stratosphere. Not too shabby a fetch price for a barely year old app with only a moderate degree of success. What on earth would precipitate a sale of such magnitude??
The impression I get from listening to the musings of various social media heavyweights is that there is a twofold reason for Facebook’s megabucks purchase of Instagram. The first is the quickening evolution of social media to the mobile platform. These days any social media site is at a severe disadvantage if it can’t be operated smoothly from a mobile device. While up to now Facebook has been the top contender among photo sharing sites, that feature hasn’t performed well for it on mobile platforms. For this reason, the union between Facebook and Instagram is a match made in heaven for Mark Zuckerberg.
A probable second reason for this acquisition is that Zuckerberg may well have looked into his rear view mirror to see Pinterest steadily gaining on Facebook. Pinterest, of course, is the platform that is based on compilations of all important visual content; the one which in seemingly no time at all has leapt into third place among the most popular social media platforms. And it’s the medium that just happened to be feverishly working toward delivering a mobile app to make it usable on the go. Pinterest is still working out the bugs, while Instagram was built for mobile. The picture is becoming clearer by the minute, if you will excuse the pun.
Many current users of Instagram are understandably upset by the Facebook acquisition. They are suspicious of Facebook’s intentions, as well as its possible ulterior motives considering the purchase may have allowed Facebook access to their photos and personal account information. A number of them are jumping ship from Instagram. But it is possible that the fallout may not be all bad. Facebook promises to leave Instagram as a separate entity. And think of the advancements Instagram can effect with a billion dollar infusion. Ultimately, time will tell whether the acquisition was good for the two platforms, as well as for the people who use them.
What is your opinion about this megabucks acquisition? Please leave your thoughts in the comments section below.