Though Facebook’s purchase of photo application Instagram may not be final yet, Instragram has already been reaping the benefits of being associated with the social network. The app’s blog reported that Instagram now has 80 million users, with more than 4 billion photos shared.
Facebook’s first quarterly financial report since going public offered some good news and some bad news for the company. The good news? Facebook is continually gaining users, especially on mobile. The bad news? The company took a major financial hit in stock compensation after the post-initial public offering freefall. But the three executives on Thursday’s earnings call — Co-Founder and CEO Mark Zuckerberg, Chief Operating Officer Sheryl Sandberg, and Chief Financial Officer David Ebersman — are confident in Facebook’s future.
Like the Facebook application for your mobile device? Why not go all out and invest in a Facebook phone? Bloomberg claims that Facebook is reportedly working with HTC and could release a Facebook smartphone mid-2013.
Analysts and bank executives have said it since Facebook’s initial public offering. Now Mark Zuckerberg, the company’s co-founder and CEO, admits it. In an interview with Bloomberg, Zuckerberg said that figuring out how to make money from users accessing Facebook on mobile devices is the company’s biggest challenge right now.
Facebook has been under scrutiny since its initial public offering regarding its ability to make money off mobile. Later this month, the company plans to offer developers and advertisers the opportunity to place targeted ads — based on what applications people use — in mobile news feeds, The Wall Street Journal reports.