Listen, i’ve noticed girls joke on Facebook about Instagram: “OMG, like, we should totally instagram that pic!! ;)”; but I never gave it a second thought. Apparently the Zuck noticed too…

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1 app company, 10 employees, $1 billion. Instagram, the Bay Area based photo sharing company recently valued at $500 million, was just recently acquired by Facebook for the extravagant 10 digit price tag. 

Instagram has over 30 million users (more than the population of Venezuela) and will be an important part of Facebook’s move for mobile participation. Keep in mind that Facebook’s immediate priority is to come up with a plan to monetize their product before they go public. We’ll see how they use Instagram in that plan.

How will Facebook use Instagram to achieve its goals? How and why does Instagram appeal to people? What’s Facebook’s next move before they go public?