Once Mocked, Facebook’s $1 Billion Acquisition of Instagram Was Genius

anderzole writes: “In April of 2012, Facebook shocked the tech world when it acquired Instagram for $1 billion,” reports BGR. “At the time, the acquisition raised quite a few eyebrows, along with many more questions than answers. Not only did people wo…

anderzole writes: “In April of 2012, Facebook shocked the tech world when it acquired Instagram for $1 billion,” reports BGR. “At the time, the acquisition raised quite a few eyebrows, along with many more questions than answers. Not only did people wonder how Instagram would fit into Facebook’s existing business, many also questioned if Facebook CEO Mark Zuckerberg had lost his mind by outlaying $1 billion for a company that, at the time, had no revenue.” Nearly five years later, Facebook’s Instagram acquisition
“not only looks like a bargain, but a full-fledged stroke of genius.” Today Instagram still shows no signs of slowing down. Instagram’s active user base jumped from 500 to 600 million in just the last 6 months alone, marking its fastest growth rate ever. “Incredibly, Facebook saw the long-term potential and impact of Instagram and managed to swoop in and acquire the company long before its user base began to accelerate wildly,” writes BGR. “From an economic standpoint, Instagram is already paying dividends via highly targeted and lucrative ads. During the first quarter of 2016, for example, it was estimated that revenue from Instagram checked in at $572.5 million and accounted for 10% of Facebook’s overall revenue. In fact, analysts at Credit Suisse believe that Instagram will have delivered $3.2 billion in revenue for Facebook by the time 2016 comes to a close. That’s not bad for a $1 billion acquisition that Facebook is still in the relatively early stages of monetizing.”
Instagram was also the second-fastest growing app of 2016, increasing its user base by 36% in just 12 months.

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Once Mocked, Facebook’s $1 Billion Acquisition of Instagram Was Genius

anderzole writes: “In April of 2012, Facebook shocked the tech world when it acquired Instagram for $1 billion,” reports BGR. “At the time, the acquisition raised quite a few eyebrows, along with many more questions than answers. Not only did people wo…

anderzole writes: “In April of 2012, Facebook shocked the tech world when it acquired Instagram for $1 billion,” reports BGR. “At the time, the acquisition raised quite a few eyebrows, along with many more questions than answers. Not only did people wonder how Instagram would fit into Facebook’s existing business, many also questioned if Facebook CEO Mark Zuckerberg had lost his mind by outlaying $1 billion for a company that, at the time, had no revenue.” Nearly five years later, Facebook’s Instagram acquisition
“not only looks like a bargain, but a full-fledged stroke of genius.” Today Instagram still shows no signs of slowing down. Instagram’s active user base jumped from 500 to 600 million in just the last 6 months alone, marking its fastest growth rate ever. “Incredibly, Facebook saw the long-term potential and impact of Instagram and managed to swoop in and acquire the company long before its user base began to accelerate wildly,” writes BGR. “From an economic standpoint, Instagram is already paying dividends via highly targeted and lucrative ads. During the first quarter of 2016, for example, it was estimated that revenue from Instagram checked in at $572.5 million and accounted for 10% of Facebook’s overall revenue. In fact, analysts at Credit Suisse believe that Instagram will have delivered $3.2 billion in revenue for Facebook by the time 2016 comes to a close. That’s not bad for a $1 billion acquisition that Facebook is still in the relatively early stages of monetizing.”
Instagram was also the second-fastest growing app of 2016, increasing its user base by 36% in just 12 months.

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Seattle Man Accused of Using Social Media To Set Up Fake Porn Agency

The Washington State Attorney General’s Office has charged a Seattle man for setting up a fake talent agency for adult entertainers in order to trick women into posing nude and having sex with him. NBC News reports: Michael-Jon Matthew Hickey is accuse…

The Washington State Attorney General’s Office has charged a Seattle man for setting up a fake talent agency for adult entertainers in order to trick women into posing nude and having sex with him. NBC News reports: Michael-Jon Matthew Hickey is accused of creating a fictitious business and using deceptive ads with bogus employment offers to find his victims. The lawsuit alleges Hickey offered and advertised commercial services solely for his “own personal gain” and to “satisfy his sexual desires” with no intention of following through on the promised services to help these women find jobs. Hickey, a 40-year old technology blogger and aspiring photographer, is charged with numerous violations of the Washington Consumer Protection Act and the Commercial Electronic Mail Act. Assistant Attorney General Andrea Alegrett, who is handling the consumer protection case, told NBC News Hickey had developed “a sophisticated scam” which involved fake business websites, fictional people, and bogus contact information. The lawsuit alleges Hickey pretended to be a woman named Deja Stwalley, who claimed to live in Las Vegas where she ran a number of talent companies, including New Seattle Talent, West Coast Talent and FMH Modeling. The New SeattleTalent website stated: “We work as recruiters and scouts for some of the top studios in the Northwest. Our goal is to be the top recruiting group for girls in America. We’re woman-founded and woman-owned, and take the talent’s safety and welfare seriously.” Hickey, posing as Stwalley, would contact women between the ages of 17 and 25 via Facebook and offer them a chance to audition for an adult film studio. Stwalley assured each woman that they “TOTALLY have the look they’re going for” and could earn between $1,200 and $3,500 a day, the AG’s complaint alleges. Digital Security expert Adam Levin, Chairman and founder of Identity Theft 911, said this case shows just how easy it is for someone to use social media for fraudulent purposes.

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Jack Dorsey Says Twitter Needs An Edit Function

Twitter is considering an edit function for tweets. In a seemingly impromptu chat on his platform Thursday, Twitter CEO Jack Dorsey gave hope to those who have long advocated for the feature, telling one user that “a form of edit is def needed” and ano…

Twitter is considering an edit function for tweets. In a seemingly impromptu chat on his platform Thursday, Twitter CEO Jack Dorsey gave hope to those who have long advocated for the feature, telling one user that “a form of edit is def needed” and another that an edit function is something the company is “thinking a lot about.” From a report: The demand for an edit button has become something of a meme on Twitter. After seemingly every new Twitter product announcement, many of the platform’s users respond with some form of “Yes, but still no edit button?” Meanwhile the feature has become standard in competing platforms such as Facebook and Instagram.

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Facebook’s Safety Check Activated For Fake Bangkok Bombing

Fake news has plagued Facebook over the last year, and now even the social media giant is falling for it. From a report on CNET: The site’s Safety Check feature has been crucial during terrorist attacks and natural disasters, helping friends and famili…

Fake news has plagued Facebook over the last year, and now even the social media giant is falling for it. From a report on CNET: The site’s Safety Check feature has been crucial during terrorist attacks and natural disasters, helping friends and families find out if their loved ones are safe during emergencies. It’s been activated across the world more than 335 times by its users, for events like hurricanes, mass shootings and terrorist attacks. On Tuesday, the automated tool went haywire, pushing out an alert about an explosion in Bangkok, Thailand, citing “media sources” as a confirmation. It was deactivated within an hour after those media sources turned out to be fake news. One of the sites used as a media source was Bangkok Informer, which scraped a video from the 2015 Erawan bombing.

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Turkey Says It’s Investigating 10,000 Social Network Users

Turkey has been cracking down on internet activity at a frenetic pace ever since an attempted military coup in the summer, and it’s now clear that there are a lot of people caught in the dragnet. From a report: The country’s interior ministry has revea…

Turkey has been cracking down on internet activity at a frenetic pace ever since an attempted military coup in the summer, and it’s now clear that there are a lot of people caught in the dragnet. From a report: The country’s interior ministry has revealed that officials are investigating about 10,000 social network users suspected of backing terrorism. About 3,710 people have been questioned in the past 6 months, authorities say, and 1,656 were arrested. The rest were let go, but 1,203 of them are still under watch. There’s one inescapable question, however: just how many of those internet socialites really support terrorism?

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After Insisting For Years That Facebook Is Not a Media Company, Zuckerberg Says Just Not a ‘Traditional’ One

Mark Zuckerberg is still trying to explain what his company does. The Facebook CEO said in August that the social-networking giant had no ambitions of being a content provider, insisting that Facebook is “a tech company, not a media company.” On Wednes…

Mark Zuckerberg is still trying to explain what his company does. The Facebook CEO said in August that the social-networking giant had no ambitions of being a content provider, insisting that Facebook is “a tech company, not a media company.” On Wednesday, he appeared to retreat a bit on that statement, painting a slightly different portrait of his company during a Live video chat with Facebook COO Sheryl Sandberg. From a report on CNET: “Facebook is a new kind of platform,” Zuckerberg said during the video chat. “It’s not a traditional technology company. It’s not a traditional media company. You know, we build technology and we feel responsible for how it’s used. We don’t write the news that people read on the platform, but at the same time we also know that we do a lot more than just distribute the news, and we’re an important part of the public discourse.” His comments come amid increased criticism that Facebook’s news feed algorithms — the software that picks the first posts you see — sometimes fan the flames of “fake news” and allow misinformation to thrive. Numerous allegations have been made that fake news shared on Facebook helped Trump win — a suggestion Zuckerberg initially called “a pretty crazy idea.”

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Using Multiple Social Networks May Lead To Depression and Anxiety, Says Study

An anonymous reader quotes a report from Daily Dot: The more social media you use, the higher the likelihood that you’ll be anxious or depressed. At least according to the University of Pittsburgh Center for Research on Media, Technology and Health. In…

An anonymous reader quotes a report from Daily Dot: The more social media you use, the higher the likelihood that you’ll be anxious or depressed. At least according to the University of Pittsburgh Center for Research on Media, Technology and Health. In a study published online this month with more than 1,700 millennial adults, it found people who report using seven to 11 social media platforms had more than three times the risk of depression or anxiety than millennials who use zero to two platforms. The participants were asked about the most popular social media platforms in 2014, the year the study was conducted, which included Facebook, YouTube, Twitter, Google Plus, Instagram, Snapchat, Reddit, Tumblr, Pinterest, Vine, and LinkedIn. Those who used more than seven platforms showed higher levels of depressive symptoms, even when researchers controlled for factors like race, gender, relationship status, household income, education, and total time spent on social media. Brian A. Primack, lead author of the study, notes that the correlation is not certain. He told PsyPost: “It may be that people who suffer from symptoms of depression or anxiety, or both, tend to subsequently use a broader range of social media outlets. For example, they may be searching out multiple avenues for a setting that feels comfortable and accepting. However, it could also be that trying to maintain a presence on multiple platforms may actually lead to depression and anxiety. More research will be needed to tease that apart.”

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Using Multiple Social Networks May Lead To Depression and Anxiety, Says Study

An anonymous reader quotes a report from Daily Dot: The more social media you use, the higher the likelihood that you’ll be anxious or depressed. At least according to the University of Pittsburgh Center for Research on Media, Technology and Health. In…

An anonymous reader quotes a report from Daily Dot: The more social media you use, the higher the likelihood that you’ll be anxious or depressed. At least according to the University of Pittsburgh Center for Research on Media, Technology and Health. In a study published online this month with more than 1,700 millennial adults, it found people who report using seven to 11 social media platforms had more than three times the risk of depression or anxiety than millennials who use zero to two platforms. The participants were asked about the most popular social media platforms in 2014, the year the study was conducted, which included Facebook, YouTube, Twitter, Google Plus, Instagram, Snapchat, Reddit, Tumblr, Pinterest, Vine, and LinkedIn. Those who used more than seven platforms showed higher levels of depressive symptoms, even when researchers controlled for factors like race, gender, relationship status, household income, education, and total time spent on social media. Brian A. Primack, lead author of the study, notes that the correlation is not certain. He told PsyPost: “It may be that people who suffer from symptoms of depression or anxiety, or both, tend to subsequently use a broader range of social media outlets. For example, they may be searching out multiple avenues for a setting that feels comfortable and accepting. However, it could also be that trying to maintain a presence on multiple platforms may actually lead to depression and anxiety. More research will be needed to tease that apart.”

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Twitter Will Hand Over Data On the User Who Sent a Seizure-Inducing Tweet To a Journalist

Last week, an unidentified Twitter user tweeted a seizure-inducing animation at Newsweek and Vanity Fair writer Kurt Eichenwald, who has epilepsy. Now, Eichenwald has taken the first step toward identifying the user. In response to a civil suit filed b…

Last week, an unidentified Twitter user tweeted a seizure-inducing animation at Newsweek and Vanity Fair writer Kurt Eichenwald, who has epilepsy. Now, Eichenwald has taken the first step toward identifying the user. In response to a civil suit filed by Eichenwald this week in Dallas district court, Twitter has agreed to hand over all relevant subscriber data for the user in question. The attack came in apparent retaliation for Eichenwald’s aggressive coverage of President-elect Trump. From a report on the Verge: While Eichenwald has yet to file criminal charges, the civil suit was sufficient for an ex parte order from the district judge. Twitter subsequently agreed to expedited relief, declining to challenge the order or demand further evidence from Eichenwald. The next step is likely to be a lawsuit against wireless carriers or service providers implicated by Twitter’s records, who will have records linking IP addresses and other metadata to the attacker’s legal name.

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