When Facebook splashed a billion dollars on Instagram in 2012, not everyone was impressed. Six years later and their decision has been vindicated.
The new Chief Operating Officer of Instagram is Emily White and surprise, surprise, she worked for Google – before moving on to Facebook, before moving on to Facebook’s new acquisition, Instagram. Here’s her plan to sell advertising within the next year.
There are two ways of taking out your competition: offer a similar, yet superior and/or cheaper product than your opponent. Or simply buy the entire rival business and start offering its service as your own. The latter happened yesterday when Mark Zuckerberg announcd that Facebook is about to buy Instagram for $1 billion.