The "Duh of the Week": I got my old camera...ShareThis
by Ron Daly
This week, Facebook bought Instagram, the photo-taking-and-filtering service that's now available for iOS and Android, for one billion dollars.
If you're a more visual learner, that's $1,000,000,000. For those of you who need a point of reference, that's half of the total value of Kodak's entire patent portfolio (according to this, anyway). The company that spent the 20th century making photography accessible to the masses is bankrupt; the nerds who created an app that makes pictures look like they did in the 60s and 70s just hit the mother load.
Is it fair? Nope. It's business.
The "Duh of the Week" goes to everyone who says Instagram isn't worth the cool billion they just made. Because as a very wise person once said, "it's worth whatever you can get for it." Is it a decision Facebook will end up regretting? I don't think so, Facebook is almost entirely about sharing pictures with other users. Don't believe me? Facebook takes 100 million uploads every day,according to these figures...and those are a little dated.
But why wouldn't they buy a service that allows people to take, modify and post pictures on the go? They've never really had their own "camera app" (that I know of), so Instagram is just filling a hole. It's smart on Zuckerberg's part, how well the Instagram community will respond is another matter.
For what it's worth? I've got my old Kodak 35mm here...any takers?