It is not new that Facebook owns the famous photo-sharing application Instagram. While the former acquired the latter more than some 6 years ago, in 2012, it is now that the importance of this step has started to truly appear in front of the company. The acquisition cost Facebook is not more than a billion dollars, which is too less compared to WhatsApp, which was bought by Facebook for $19 billion. The returns of this particular deal although have been truly exemplary.
The photo sharing website, which was run by not more than 13 individuals, soared to fame among the young generation pretty rapidly that made a company like Facebook to acquire it. And it is clearly evident that this move was one of the smartest ones as Instagram is now estimated at nearly $100 billion, which is hundred times than the price for which it was sold.
According to some analysts, the company is expected to match the number of users of Facebook, by reaching a number of nearly 2 billion in less than half a decade. As of now, the application has a billion people as monthly users, as per the statement by the company officials.
With the users spending more than an hour, on an average, on Instagram, which is closer to the time they spend on Facebook, the future is expected to be even brighter. In addition to that, another upcoming development called as the Instagram TV is anticipated to further help the business.
In other news, Facebook has recently declared that it will be launching a print magazine particularly for the business leaders. The magazine is called GROW, and will shed more light on the companies, trends and the relevant people.