Facebook's announcement of its $1 billion acquisition of the mobile photo-sharing service Instagram grabbed the public's attention, and for reasons beyond the curious idea that a company not yet two years old and with about a dozen employees could be worth that kind of money.
- Adding Instagram is seen as an acknowledgement by Facebook that it needs to focus on the mobile experience of its users, Jenna Wortham writes. Sending a photo, experience is showing, is a much easier and more interesting way to "update your status" than sending a text message.
- The acquisition is not typical for Facebook, Dealbook reported, in that there is every reason to believe it will keep Instagram operating. (Some Instagram users were quick to explain that one of the attractions of Instagram was that it was explicitly not Facebook.) In the past, Facebook has carried out what it calls "acqui-hires" — buying companies for their programming and design teams rather than their products.
- Mark Zuckerberg, who announced the news on his Facebook page, also posted a photo of his dog on Instagram, his first post there in 43 weeks, Nick Bilton noted on Twitter.
Sony Corporation on Tuesday forecast a $6.4 billion annual net loss, Reuters reported. The company, which is said to be planning to lay off 10,000 employees (6 percent of its work force), said it would make a profit in the current year. Part of the rebound strategy, according to Reuters, involves merging Sony entertainment properties — including singers like Kelly Clarkson, and the "Spider-Man" and "Men in Black" film franchises — with its Vaio, Bravia and other electronics brands, to increase sales.
George Zimmerman, the man who shot and killed the unarmed teenager Trayvon Martin in what he says was an act of self-defense, has created a Web site to speak out and collect donations, The Lede blog reported. His lawyers confirmed that the site, which contains quotations and a big American flag, is genuine.
The Washington Post reported on the latest status symbol for TV pundits: having a camera installed at home so they can comment at a moment's notice. The one-from-column-A, one-from-column-B pundit couple James Carville and Mary Matalin are among those whose homes have been wired. Sarah Palin's cameras at home for Fox News are of a different quality, Ned Martel writes, because they are satellite linked and high definition.
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