Instagram was recently bought by Facebook for 1bn US dollars. That is even more than was paid for MySpace and The Huffington Post and almost as much as was paid for YouTube. Instagram is an app that puts a retro filter on photographs. Its succes grew rapidly after celebrities like Barack Obama and Justin Bieber opened accounts. It is not a total mystery why this app that was released only one and a have year ago, was worth such a big buy-out. The reason probably is the release in the Android App Store that, after an immense popular period in the Apple Store, resulted in 1 Million buyers withing 24 hours.
http://www.independent.co.uk/life-style/gadgets-and-tech/news/how-two-whizzkids-made-a-billion-dollar-app-in-551-days-7631272.html
My reaction
Nowadays it seems like everyone can become rich with just one simple idea. Lots of people are living the Internet dream now, instead of the American Dream. Everyone, anywhere in the world could become successful by using the Net. However, this succes could fade away easily. For instance, Geo Cities and MySpace were huge successes, but nowadays no-one uses those platforms anymore. In that perspective the young men behind Instagram were wise to sell the app while it is so extremely popular.
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