Tagged: Facebook

It's beginning to feel frothy in Silicon Valley. Here are a few numbers:

Days after it was acquired by Facebook for $1 billion, reports have emerged that Instagram now has more than 40 million users in its photo-sharing community. The gain, which was derived from the service's API, represents a spike of 10 million Instagram users added in the past 10 days, according to Venture Beat.

The practice of employers asking job applicants for their account login information for Facebook and other social media sites is meeting its backlash, as Maryland is poised to be among the first states to ban the practice. The state's General Assembly has passed the bill, which now awaits the signature of Gov. Martin O'Malley, reports The Baltimore Sun.

Transcript

STEVE INSKEEP, HOST:

Facebook likes Instagram. That's the top of our business news.

(SOUNDBITE OF MUSIC)

INSKEEP: And they did more than just click the little thumbs up. Facebook is buying the photo application Instagram and the price is higher than it has ever paid for an acquisition - $1 billion; this for a company with only around a dozen employees. As somebody joked yesterday, why didn't they just download it?

As NPR's Laura Sydell reports, some analysts say the purchase is a defensive move.