Best week ever for Instagram?
Last week, the popular photo sharing application released on the Android platform and added 1 million new users in the first 12 hours.
Today, Facebook CEO Mark Zuckerberg announced an aquision of the company for ….wait for it….
One. Billion. Dollars.
Instagram’s reported value just last week before the Android launch was $500 million, which means the Android release had to happen for the Facebook acquisition to make sense. “Who’s Section 8 now, iPhone snobs!” (say all the Android users.) Even so — that sound you hear? It’s iPhone snobs delete the app from their phone. The sound, it’s deafening.
Why one billion dollars, though? Mark Zuckerberg could have bought it for less, but he said he wanted a nice, round, evil genius number.