Posts Tagged

make money

Six months ago, Instagram was valued at $1 Billion when they were bought out by Facebook, an amount thought absurd by most. Shortly thereafter came huge changes to their Terms of Service, explicitly stating that they could store and sell any photos uploaded to the site. Users were angry – and rightly so.

The online stock photography market is worth $5 billion each year – and commission photography worth $12 billion. So I guess you can see why Facebook and Instagram wanted to cash in, especially as neither had decent revenue streams. They’ve since changed their terms of service back, for the most part, but the reputation damage was already done.

Now, a new kid on the block is becoming more and more popular – EyeEm. It’s a German “visual search engine” and social network for photographs. The new contender is far from ready for prime-time, and is much smaller than the mighty dominant Facebook. But on the Internet, it’s users’ clicks that matter, and they’re flocking to the new service. Could it be the next Instagram?

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