When Facebook bought Instagram (an App) for a billion usd in April of last year, most of us were scratching our heads. Whilst Instagram had 9 employees (it was started in October 2010), it was the first time Facebook had acquired a business like this.
9 employees, 1 billion?? Here's my blog from then;
http://streamabout.blogspot.ie/2012/04/instagram-sells-to-facebook-today-1.html
This week, Instagram has just announced that it has 150 million active monthly users - that's 50 million more than it had 7 months ago and that is, unbelievable growth. 60% of these users are outside of the US which makes it even more appealing.
With this growth comes Ads and Instagram have said that they'll start selling ads next year and that will now go some way to repaying Facebook. With this amount of users, it won't take too long to generate a billion dollars in revenue.
One of the things that's driving this growth is Instagram online video which started a few months back. So you can not just view pretty pictures but pretty video too.
Fairly extraordinary stuff and one where I think we can safely admit....it looks like we were wrong....online video driving growth, again. I should have known.
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