Buy your competitors and shut them down – old ways of doing business in the web …
To all you who call the web a hotbed for innovation – the business practices are just the same as in the old school offline world. Facebook for example has become big enough to swallow all upcoming and already established competitors. After acquiring Friendfeed, now Instagram.
Both tried to be more than just blogging / photo sharing services – they are social networks. So what’s next – Path? Reddit? Who cares.
The important thing is that we are in full transition from the early days of social networks to a mature market. Services will be launched just to be appealing to the big 3 (Facebook, Twitter, Google) and this strategy will fail, making the big 3 just bigger.
#facebook #instagram #socialmedia #business
Breaking: Facebook’s Buying Instagram for a Billion Dollars
Mark Zuckerburg just announced that Facebook has agreed to buy mega-popular photo sharing service Instagram for $1 billion. Facebook’s been on a buying spree of late, and has been beefing up its own a…