© The Financial Times Ltd 2014 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
Kevin Systrom, Instagram’s founder, didn’t mention Vine at all when he unveiled his photo-sharing app’s new video function. But he wasn’t exactly subtle about pointing out the places where Instagram differs from Twitter’s 6-second video app. Here’s a quick rundown and some first impressions of how the two apps stack up: Read more
Today’s hottest internet services all involve pictures. Draw Something attracted 15m users in its first six weeks before the game was bought for $200m by Zynga, Pinterest has rapidly become the third-most popular US social network and Facebook is paying $1bn for Instagram. This week, snapshots of three picture-taking services.
Some 18 months after launching, it reaches 20m users and may be on the way to owning its category. An established internet giant, which has been trying to break into the same market, jumps in with a takeover offer worth more than $1bn – even though it’s not clear how the start-up will make money. With a market value that has soared to over $100bn, though, the acquirer feels it can afford the risk.
No, this is not Facebook buying Instagram – but the parallels are striking. Read more