Facebook Inc (NASDAQ:FB) is on the move. The company is making changes as it continues to search for new ways to not only engage users, but to increase revenue.
Just how much success the social networking giant has with these changes is yet to be seen, but one thing is for sure: Facebook users, along with investors, are interested in seeing what the future holds.
In a recent “Lunch Money” segment published by Bloomberg Television, Jon Erlichman discusses the following:
“Facebook is adding video to its Instagram photo- sharing service, challenging more established offerings by Twitter and Google’s YouTube.”
This is a big step forward for Facebook Inc (NASDAQ:FB). If successful, it is a move that could help push the company to the next level. If things don’t work out as planned, Facebook will have to regroup and continue forward in a different direction.
For a better idea of what is going on, let’s see what Erlichman had to say:
“It would remind us of how important the Instagram story is to the overall Facebook story. They covered up the big thumb when you come to headquarters here, of course, the like button, and put up a side that said “we have got a small team working on a big idea.” The Instagram team is relatively small and yet this is one of the big potential growth stories for them since the acquisition that Facebook announced right before it went public and at the time valuing Instagram at a billion dollars. We have seen that service continue to explode. A hundred million users plus now, and obviously they have got to figure out how exactly that translates to the business side. For now, they really want it to continue to grow, maybe you add video, maybe that makes people more engaged…”
We’ll stop there, because Erlichman was dead on with this thought on where Facebook Inc (NASDAQ:FB) is headed with the help of Instagram.
Video on Instagram is now a reality, and you can learn more about this by visiting the blog post that lines up all the details.”
“Today, we’re thrilled to introduce Video on Instagram and bring you another way to share your stories. When you go to take a photo on Instagram, you’ll now see a movie camera icon. Tap it to enter video mode, where you can take up to fifteen seconds of video through the Instagram camera.”
It was obvious that Facebook Inc (NASDAQ:FB) was going to use Instagram in an attempt to grow its business and revenue, and now this is beginning to become reality.
On the next page, you can watch the Bloomberg video segment in its entirety: