The US$1-B purchase of the mobile phone sharing application Instagram disrupted traditional business models, Hans Roxas-Chua, co-founder of the Internet & Mobile Marketing Association of the Philippines (IMMAP) said during Rappler’s TalkThursday on April 12. Instagram, a free app with few ads on its site but with a minimum of 30 million users, was purchased by Facebook, transforming Instagram into overnight millionaires. “Digital has the ability to disrupt,” Roxas-Chua said. For 1% of its estimated IPO value, Facebook was able to take out one of its biggest competitors, making the deal beneficial all around, as the venture capitalists who invested $50 million in Instagram the week before the buyout, doubled their money in days. Read more details in Rappler.
Purchase of Instagram disrupts traditional business models
Upgrade to listen
Powered by Speechify
Already have Rappler+?
to listen to groundbreaking journalism.
There are no comments yet. Add your comment to start the conversation.