
In a highly publicized move, Facebook recently acquired the popular photo-sharing app, Instagram, for roughly $1 billion in cash and stock. The profitless photo-sharing app that originated in San Francisco now has upwards of 30 millions users after being independently active for a mere 551 days. For most of this time, the app was exclusive to iPhone users. All this puts the death of so-called “old media” in perspective; in comparison with the app, the New York Times is reportedly worth $970.22 million.








