Facebook acquires Instagram for $1 billion + some other stuff happened


Your Monday Mobile Pint: the top mobile stories from the past 24 hours, good to the last drop.

Facebook Acquires Instagram for $1B: One Step Closer to Owning All Your Memories (via BetaKit)
In an official statement breaking the news, Facebook CEO and founder Mark Zuckerberg said the move is about helping Facebook become a leader not only in online, but also in mobile photo sharing.

Here is why Facebook bought Instagram (via GigaOM)
So the question is: Why did Mark Zuckerberg, Facebook’s level-headed but mercenary founder, buy Instagram at twice the valuation that professional venture investors were putting on it?

Right Before Acquisition, Instagram Closed $50M At A $500M Valuation From Sequoia, Thrive, Greylock And Benchmark (via TechCrunch)
right before its billion dollar acquisition from Facebook, Instagram closed a $50 million Series B round from Sequoia, Josh Kushner’s Thrive Capital, Greylock and Benchmark at a $500 million valuation.nvestors, many of whom didn’t know about the Facebook acquisition, literally doubled their money (which was wired to Instagram last Thursday) overnight.

Kevin Systrom: Having His Cake and Eating It Too? (via PandoDaily)
It’s not just that no one knew how Instagram was going to monetize. The right answer may be that it shouldn’t be immediately monetized. Facebook doesn’t monetize photos directly or the newsfeed or events or many of its most valuable features. This may be a rare case where they beauty of Instagram gets preserved under a cash-rich parent who gets value from its sheer existence and engagement.

As IPO looms, Facebook also wants to be a mobile leader (via GigaOM)
This post reads a little different after today’s news.

“If Facebook Were Built Today, It Would Be a Mobile App” (via ReadWriteWeb)

The Lumia 900 Becomes Amazon’s Best Selling Phone, Topping The RAZR MAXX And Galaxy Nexus (via TechCrunch)
Part of the instant popularity likely comes from Amazon’s price of $50 with a two-year service plan. That’s $50 less than AT&T’s price and $150 less than the previously most popular phone from Amazon, the Droid RAZR MAXX.

Think 4G is 10 times faster? Think again (via GigaOM)
While we’re all excited about the arrival of 4G speeds, consumers need to realize that 4G can also deliver speeds up to 10 times slower than 3G, or dial-up, depending on real-world variables.

[Infographic] How the App Stores “Really” Stack Up (via ReadWriteWeb)
German BlackBerry blog BlogBerry.de sent us over an infographic breaking down the “reality” of the native app stores. It quotes RIM VP of developer relations Alec Saunders as saying 13% of BlackBerry developers have made $100,000 or more off their apps.

Why RIM Lost Its Crew, Its Groove (via Fast Company)
In business, complacency kills, as the competition is not only trying to innovate faster, they’re ready to snatch up members of your devoted tribe.

BYOD is unstoppable. Smart companies must build apps
The Bring Your Own Device (BYOD) movement has gained unstoppable momentum. And thanks to the burgeoning mobile app market, employees have high expectations for these tools. They want an attractive user experience tailored to their devices. In other words, companies need to invest in building apps, period.

About the author

Douglas Soltys

Douglas is the former Editor-In-Chief of Inside BlackBerry, BlackBerry Cool, and QuicklyBored, which he launched as a mobile gaming industry site. His knowledge of mobile and social media led him to a job at RIM (BlackBerry), where he got to travel the world and do lots of cool things. He is often left-handed, but rarely sinister.

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