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.
About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with AI strategy, implementation and governance, as well as technology, media and marketing. Named one of LinkedIn’s Top Voices in Technology, he is a bestselling author, covers tech and business for Fox 5’s Good Day New York, is a regular commentator on CNN, and writes the popular daily business blog Think About This. Follow @shellypalmer or visit shellypalmer.com.