One of the hottest mobile apps for Apple’s (NASDAQ:AAPL) iOS is Instagram, which makes it easy to share photos and stylize them with various filters. Now, it has broken out of its shell.
Yesterday, Instagram launched a version for Google’s (NASDAQ:GOOG) Android operating system, and the immediate uptake has been huge. Chief executive Kevin Systrom said it’s being downloaded at a rate of 2,000 every minute, according to the New York Times, which would be a rate of 3 million downloads per day.
But the Android version is not identical to the iOS version. For example, there is no “tilt shift,” a focus-and-distortion feature. Of course, in the mobile world, apps frequently are updated with new features, so no worries there.
Instagram currently has 30 million users — and of course, there will likely be a huge spike over the next couple months. But unlike other big social companies, such as Zynga (NASDAQ:ZNGA), LinkedIn (NYSE:LNKD) and Pandora (NYSE:P), it looks like revenues are minimal. So an IPO might be years away.
– Tom Taulli, InvestorPlace