Facebook, Instagram, and the Future of Mobile
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Yesterday, social media giant Facebook made a huge investment in its mobile strategy by announcing it would acquire the popular photo-sharing application, Instagram, for a whopping $1Billion.
Although that’s a hefty price tag by anyone’s standards (note old-media giant NY Times has a public stock worth only about $950M), it may very well be a worthwhile investment into Facebook’s somewhat ineffectual (at least, to date) mobile and commerce strategies. “It allows Facebook to immediately grab the huge number of users already engaged with the Instagram app,” remarks Michael Harvey, Corra COO, to Ecommerce Times.
Harvey also notes that adopting the photo phenom may be a defensive play against Pinterest—a website that many brands have turned to as a new way to visually engage their consumers.
Read the full story at Ecommerce Times.