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Facebook’s much talked about $1bn purchase of photo-sharing app Instagram marks the start of a new chapter for the social network as an umbrella company, writes Emma Barnett.
Mark Zuckerberg, Facebook’s 28-year old founder and chief, has found himself in a rare and enviable position. Now that his social network has been valued at $100bn, he can comfortably afford to wipe out any of its competitors with large purchase prices and lots of change to spare.
Instagram, with its 30 million users, (...)