Guess if I am referring to Facebook or MySpace:
The most widely used and popular social networking site buys a rapidly growing photo sharing property.
Is it Facebook or MySpace?
Its a trick question. The funny and sad reality is that both fit the bill.
In 2007 MySpace was the largest and most popular social networking site, and bought PhotoBucket for a shit load of money.
A few weeks ago, Facebook bought Instagram for more than a shit load of money.
Did Facebook need to spend $1B? Many have stated that Instagram-is-to-mobile as Facebook-was-to-PCs. In this context, the price tag was a no brainer. But Facebook's growth over the last two years have been directly tied to mobile. If Facebook is loosing in the mobile space, they have themselves to blame. Facebook should understand mobile better than anyone, yet their current mobile offerings suck. Their mobile offerings are slow, clunky and frustrating to use.