NEW YORK (TheStreet) -- "Kodak Goes Bankrupt and Instagram is worth a Billion Dollars. 2012, y'all"That was a tweet from @benhjacobs that I retweeted Monday and immediately got hundreds of retweets from my followers. For some reason, it seemed to capture the sense of awe from many over the significant milestone. But it also gets at something else that's amazing in this story. How a small little photo application can be worth so much more -- in such a short time -- compared to an American icon. It says just how important "mobile" is in the business world today.
What about Groupon ( GRPN)? This is still up in the air. Groupon's mobile play is certainly going to be Groupon Now. However, that has yet to really be rolled out. At the moment, Groupon is still a Web-based sign-up service. Mobile shouldn't hurt them as much as it hurts Facebook, because Groupon isn't an ad-dependent model. Facebook does face a major challenge with the shift to mobile. They are taking out a mobile-only competitor by acquiring Instagram but this doesn't help Facebook make money from mobile. They still need to determine how to do it. Stuffing ads into people's news feeds is probably not the right answer. First You Screw Up, Then Lie and Finally Die Google has the most to lose from the shift to mobile, because they make 96% of their revenue from the PC-based desktop search world. However, like Facebook, they have lots of cash to do deals with. So, expect them to compete with Facebook to take out hot mobile services such as Pinterest, Path, Twitter, Evernote and Foursquare. But, like Facebook, these deals won't do anything for Google's market cap.