When Facebook spent the staggering amount of $1 billion on the Instagram acquisition, people the world over thought they were crazy for throwing that kind of money on an app that, at the time, hadn’t generated any revenue.
Well, that acquisition turned out pretty well for CEO Zuckerberg, who has since allegedly turned his sights on Snapchat, only to have an even more ludicrous offer spurned. How much more ludicrous, you ask? Apparently, Snapchat recently turned down a $3 billion offer from the social media giant. Read more…
Zuckerberg’s crazy $1 billion purchase of Instagram 6 months ago is now looking like a steal. BusinessInsider writes that the photo sharing app, which ended up costing just $735 million when the deal finally closed, has seen meteoric growth since the purchase agreement was made:
Mark Zuckerberg did a lot of things wrong during the first half of 2012, leading up to and through Facebook’s few months as a public company. One thing he did well was buy Instagram for $1 billion. It turns out that was a bargain.
Back then, the photo-sharing app for Android phones and iPhones had 860,000 daily active users. Today it has 11 million. That is 1179% growth in six months.
They also point out that photo sharing site Pinterest, which has far less users, has in recent months turned down acquisition offers of over $2 billion. Instagram has 30.3 million monthly users, and just passed the 100 million registered users mark. These astronomical prices being thrown around make Yahoo’s $35 million — the rumored figure — purchase of Flickr look like an absolute steal. Too bad they haven’t been able to do much with the service so far.
Zuckerberg’s Huge Win: Instagram Proves To Be A Bargain At $1 Billion [Business Insider]
Not many wedding photographers get to shoot a wedding portrait that receives over one million Facebook likes, and not many more go to a wedding expecting to shoot a graduation party. But that’s the story of photographers Noah Kalina and Allyson Magda, and their experience shooting Mark Zuckerberg and Pricilla Chan’s secret wedding. Read more…
A recently discovered flaw in Facebook’s abuse reporting tool allowed anyone to access private photographs of other users, including Facebook founder Mark Zuckerberg. Until it was fixed today, the reporting tool allowed anyone who reported a public photograph’s owner to also peruse that user’s images, both public and private. After members of a bodybuilding forum discovered the security hole, they proceeded to target Zuckerberg’s account and publish a number of his private photographs online. This comes a week after the FTC slapped Facebook’s wrist over deceptive privacy practices.
(via Wired via The Click)