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who wrote (
5/2/2012 11:12:18 AM
Instagram crosses the 50 million mark
May. 2, 2012, 7:24am PT
launched its Android app
in early April, we said that it would only be a couple of weeks before the company crossed the 50 million mark. Well, it took three weeks (interrupted by its
$1 billion dollar acquisition
by Facebook) to
cross that milestone
. In early April 2012, Instagram had about 30 million members.
The speed of Instagram’s growth was what panicked Mark Zuckerberg. Despite pretensions, Facebook is primarily a photo sharing site and photos happen to be one of the key sources of engagement on its vast platform. While their “photo” franchise might not be a money maker for the company, it keeps bringing people back.
The growth of Instagram photos being shared on both Facebook and Twitter was one of the reasons Zuckerberg paid a billion dollars for the 13-person operation without as much as consulting his board.
who wrote (
5/12/2012 3:03:12 PM
Facebook's IPO already oversubscribed: source
SAN FRANCISCO | Fri May 11, 2012 8:53am EDT
SAN FRANCISCO (Reuters) - Facebook Inc's record initial public offering is already oversubscribed, a source familiar with the share listing said, days after the world's largest social network embarked on a cross-country roadshow to drum up investor enthusiasm.
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