Cheshire Cat Photo Blog(...said the Cat: 'we're all mad here....')

… on the way to its $100-billion IPO.

Why?

The L.A. Times sums it up succinctly. Instagram, with 13 employees, had just raised funding that valued the app maker at $500 million. Instagram was rapidly becoming a competitive social network that let people share photos, tweaked with filters, on Instagram and on other social networks, from a mobile platform. Instagram’s Android app was adding 1 million users each day, and its iOS app was adding 25 million users each day! Meanwhile, other competitors to Facebook were circling and might have just gobbled Instagram up, had Facebook not acted!

Paul Kedrosky, a senior fellow at the Kauffman Foundation said of Instagram, as quoted in the L.A. Times:

“It was becoming a competitive social platform.”

“In many ways, Facebook would rather not have done this. It creates a mess for them with having to issue an amended S-1 with this highly material transaction,” Kedrosky said. “What that tells you is that Facebook felt like it had to do the deal.”

“Getting it done beats losing Instagram to a competitor,” Kedrosky said.

Ah… high tech! It is a lot of fun to watch if your life no longer depends on it!

-Bill at

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