I’m sure you have all heard this, but if not, allow me to repeat it.
Facebook just bought Instagram, the incredibly popular photosharing app that just recently became compatible with Android, for $1 Billion. One Billion Dollars.
Just sit back and think about how much money that is. There are nine zeros in that amount. A whole lot of money.
Even more money when you think about Instagram as a program itself. It’s a free app. There are no additional purchases. No “packs for new filters”. No ads either.
This was a purchase made for the sheer awesomeness of the product, not necessarily the revenue stream attached to it. And a purchase that included a lot of zeros.
Now, I realize that it wasn’t bought just for being awesome. That there were lots of other reasons the purchase went through. Some of them are even mentioned on the Instagram Blog and on Mr. Zuckerberg’s Facebook page. And who knows where the app will go in the future. I hope it remains free, but we’ll see.
As for me, I’m still trying to wrap my head around the number of zeros in a billion dollars. Maybe if I try to attribute it to objects. Yeah, that’s a good idea.
250,000 Canon 5D Mark iiis
166,666 Nikon D4s
2500 reasonably priced homes in Oregon
58 private islands in Florida
You can also feed 14,419,610 children in Africa for a year.
Just a little bit of perspective. Crazy amount of money.
P.S. I don’t think that this was necessarily a bad use of cash! I adore Instagram (mrssoup on there by the way!) and think it should be around forever and forever for sure! It’s just sometimes hard to wrap your mind around massive amounts of money like that.