Facebook may be having trouble monetizing its one billion members, however its recent acquisition of Instagram is seen as a huge win for the company. The social networking giant purchased the popular photo-sharing app in April for about $1 billion and since then it has grown more than 1,100%, Business Insider reported. Instagram was a small company with no revenue and only 860,000 daily active users, but since the acquisition the company’s traffic has increased to nearly 11 million users per day. Read the full story at Boy Genius Report.
Instagram has grown more than 1,100% in six months
Author: Shelly Palmer
Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).