Facebook Pays $1 Billion for Generic Photo Uploader

Facebook Buys Instagram - The Anti-Social MediaYesterday, Facebook bought Instagram.

Instagram is a service that lets you take photos with your smart phone and upload them. For the longest time, it was only on iPhones because they were hipster douches too elitist to make it for Android.

There is some hype around some crappy filters and blingee effects you can add to the photos, but beyond that, it’s a photo uploader.

Oh, and it’s never made a single penny. But, Facebook paid $1 billion for it.

Another reason to love capitalism. You can create a generic idea that’s never made money and sell it for a billion dollars.

Now, someone go offer me a billion dollars for this damn blog. I’ve got cats to feed.

8 Responses to Facebook Pays $1 Billion for Generic Photo Uploader

  1. Morgan April 10, 2012 at 10:21 am #

    It is really weird that Facebook decided to buy Instagram. Instagram was obviously wanting to sell out; they had never made a dime before this billion dollars.

    I like Instagram, I use it occasionally and it’s cool to change my pics a bit, but like you said, it’s really not that special.

    Facebook bought it for it’s popularity, not it’s specialty.

    What I find funny about the whole thing is, now people are all up in arms about it and they’re leaving Instagram because “big ol’ mean Facebook” is going to make it all corrupt or some shit. People amaze me.

    • Jay April 10, 2012 at 2:22 pm #

      These are the same people who threaten to leave Facebook every time it changes a pixel and then they crawl back.

  2. Claire Wagner April 10, 2012 at 12:15 pm #

    Awesome success story, only possible in America, where Business Never Learns.

    • Jay April 10, 2012 at 2:22 pm #

      I think it learned how to keep chumps poor.

  3. Dave Baldwin April 10, 2012 at 12:18 pm #

    This is nowhere near as priceless as the day Rupert Murdock paid over $500 million for MySpace! At least people apparently still use Instagram for something other than spam and malware. I’m sure Facebook knows how they’ll make their money back.

    • Jay April 10, 2012 at 2:21 pm #

      At least Facebook makes money. That’s a bonus right there.

  4. Amy G. H. April 10, 2012 at 9:25 pm #

    I like Instagram, but am baffled as to why Facebook bought it for a billion dollars. Couldn’t they have created their own photo upload for much less than that???

    • Jay April 10, 2012 at 10:51 pm #

      Maybe they’re trying to stimulate the economy?