Facebook Inc (NASDAQ:FB) acquired social picture sharing app Instagram months ago but now it looks like they may end up replacing with their own Camera Photo application.
This new iOS app for Apple Inc. (NASDAQ:AAPL) devices allows Facebook users to take pictures from their ‘iGadgets’ and instantly share them on the social media website. The interesting thing about this new app is that it’s both very similar and different from Instagram. The images displayed on the app are featured in chronological order. It also allows users to manually upload pictures from the device. Other key features in this app include features for commenting and filters/edits. One of the key differences of this app is that it allows users to upload multiple photos instead of just one at a time.
In a rare interview with Harvard Business School that was published online earlier this month, (it has since been taken down) value investor Seth Klarman spoke at length about his investment process, philosophy and the changes value investors have had to overcome during the past decade. Klarman’s hedge fund, the Boston-based Baupost has one of Read More
Although the Facebook Camera app is still brand new, it’s gotten a lot of rave reviews. The fact that they launched the app at the heels of their Instagram acquisition makes people question Facebook’s motives for the buy-up even though the it was reported that Facebook was working on this app for quite awhile.
New York Times’s Nick Bilton thinks that it’s a strange move but then he reminded us that Facebook has more users than Instagram and that this app will reach more people.
Facebook’s representative Derrick Maines says that the company noticed many FB users sharing a ton of photographs and many others leaving comments. The company then made it a top priority to create an app people wanted to use.
I don’t really find it surprising that Facebook created their own photo app. I think we all knew it was a matter of time that they would launch their answer to the ever-popular Instagram, I just think we didn’t expect it so soon. Does this mean the end for Instagram? While I doubt they’ll shut down the popular anytime soon, I can see the company phasing it out in the near future. At press time, we still don’t know what Facebook plans on doing with their acquisition.