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Facebook buys Instagram for $1 Billion

Social Media

You’ve probably heard by now that Facebook paid $1 billion for a smart phone app that allows you to post your images from your phone. The app is described by the Instagram team as a combination of instant snapshots reminiscent of the old Polaroid and telegrams sent with to others – Instagram was born.

The Instagram team is small, only twelve employees and the app is only about 15 months old. Jackpot!

An interesting view of this phenomenal business exchange by Miles Burke is presented in his article, Build a Billion Dollar App. He outlines 10 points that helped lead to the success of this company.

Apps are not that difficult to build. It’s the promotion, funding and original idea that seem to be the most difficult part of  finding success like Instagram and Angry Birds have enjoyed. But, hey, why not you (or me)?

Chesa Keane
www.computergoddess.com 

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