In other Facebook-related news, the social networking giant announced its acquisition, Instagram, now has 100 million active users. Facebook, despite owning it, calls it a formidable competitor, in a testament to the network’s popularity. “One of the services that is, I think, a quite formidable competitor is Instagram,” David Ebersman, Facebook chief financial officer, told investors at the Morgan Stanley Technology, Media, & Telecom Conference. This is a huge testament to Instagram’s own place in the social networking services business.
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