After only one year, Instagram’s Android app has grown to account for almost half of the photo sharing app’s 100 million users, the company announced today. To compare, Instagram had 30 million users a year ago, when it launched its Android app. And that was only a few days before Facebook ended up buying the company for a whopping $1 billion.Facebook Fatigue: One of the big challenges for Zuckerberg & Co. is keeping teenagers enthusiastic about the site. Some surveys have shown a drop off in interest. SV Angel's Brian Pokorny, who recently spoke at the Disrupt New York 2013 conference hosted by TechCrunch, described Facebook in unflattering terms. “It’s a utility,” Pokorny said. “It’s not going anywhere.” Facebook's top executives are aware of the problem, but discount the idea that the social network site has lost its edge. Tomio Geron at Forbes, who live-blogged the Facebook earnings call, zeroed in on this quote from Facebook CFO David Ebersman:
We have high penetration rates in the U.S. and globally. Younger users remain among the most active users we have. Younger users are also extremely active users of Instagram. The urban legend we think is more often than not from surveys. We take this feedback seriously but the assumption is of a zero sum game. We don’t think so.The full earnings conference call transcript is now up on Seeking Alpha. The following Covestor portfolios are long Facebook as of 5/1/13:
- Undervalued Opportunities managed by Eric Steiman
- Flexible Long-Short managed by Ruben Kuswanto
- Long Only Sector Rotation managed by Banu Simmons
- Opportunistic Arbitrage managed by Stone Fox Capital
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