Facebook buys Instagram
Isn't instagram just an app that puts a photo through a sepia filter, adds a vignette effect, reduces the resolution, and then lets you email it to someone?
What the fuck is the point, exactly?
Here's the point of Instagram -- after the Android version was released a few days back (over a million downloads in the first 24 hours), loads of Instagram hipsters openly declared their disgust that the lesser platform gained this tool. They admonished Android users not to follow them.
Instagram is attitude in a network. It is the cheapest, most superficial mechanism of feeling edgy and artsy.
Not sure what the ellipsis is supposed to mean, however Facebook is buying the network. The network whose existence I tried to explain.
Instagram is a web site that people spend time on that isn't FaceBook.
That's why it was bought. To reduce the number of sites that aren't FaceBook that people spend time at.
The way I understand it, the hipsters left Facebook for Instagram, because FB became too mainstream.
I guess The Great hipster Migration will continue somewhere else now.
April 9th, 2012 3:17pm
They bought the wrong company. All the chicks are headin' towards Pinterest.
Only days before getting acquired, the VCs brought in a bunch of more investors, reducing ownership percentage of the founders, and redirecting their share to connected bankers and wall streeters:
To summarize, these guys bought a $50 million share on Friday and on Monday their "investment" paid $100 million in the Facebook buy.
They are claiming they had no idea and it's just blind luck, even though the whole thing was arranged by the VCs that arranged the FB deal.
Instagram revenue to date: $0.
Number of employees: 20
Price paid: $1 billion
Price per employee: $50 million
Average amount received by each of the 7 non-founder employees with equity: $20,000.
My bet: Path is next. People use FB account to login and add Path friends, but use Path exclusively outside of FB.
"This is a brilliant acquisition by Zuckerberg. Let's say that Facebook can turn on monetization on mobile clients. That could mean $500 million in revenue on first quarter, $700 on second, $900-$1 billion on third. Looking at it this way paying a billion for Instagram makes a LOT of sense" - Robert Scoble
"Instagram Was Facebook's Biggest Threat" - Nicholas Carlson
"Giving up 1% of your market cap to take out biggest threat is a savvy move." - Chris Dixon
Facebook pays 100 trillion for Crazy on Tap.
"This is the smartest move anyone ever made", say all financial and VC bloggers.
"Zuckerburg is a genius for buying Crazy on Tap, which comes with all six of its regular posters." - President Obama
Financial bloggers were criticizing Zuckerbeg for Facebook's lousy corp governance rules.
Kodak's value for solving every photo flaw in history? $0. Instagram's value for reintroducing all those flaws back into your photos? $1b.
Sorry I didn't get involved in the chat yesterday. I was still a bit confused.
It does make sense, but the figure is outrageous! Facebook has a bunch of users. A bunch of people use Instagram now instead of FB. The barrier for entry is lower. FB now has access to even more users.
It's to early for anyone to buy Pinterest, certainly one to watch though.
"Reports suggest that $100m will be shared out among the other 11 members of staff, some of whom joined the company just a few weeks ago."
That's more than $20,000.
I'm going to share out a million bucks with all you guys.
So what does that mean?
Also "reports" from who? Who are these mysterious "reporting" people that can not be cited?
BTW, another article had them as having three engineers on staff, and neither founder is included in that count. The three engineers have done all the development and server work.
Roll call and bios
Kevin Systrom, CEO. Former product manager. 40% owner, $400 million payout.
Mike Krieger, co founder. Stanford educated "user experience" designer. 10% owner, $100 million payout.
Dan Toffey, "community helper". Has worked there for 2 weeks. Previously worked for Wall Street at the Commodity Futures Trading Commission.
Josh Riedel, "community handler". Former community manager.
Philip McAllister, engineer, hired in January. Worked for Gowalla, then quit in disgust after it was acquired by evil Facebook.
Ryan Gomba, developer, hired two weeks ago.
Bailey Richardson, "community handler". Former community manager. Hired two weeks ago.
Amy Cole, accounting and business operations.
Gregor Hochmuth, engineer, hired in December. Former Google product manager.
Jessica Zollman, "community evangelist" and "user advocate".
NOTE: This 'community' term means customer service if you didn't know.
Shayne Sweeney - developer