On a cost-per-existing-customer basis, Facebook stole Instagram.  And that’s before Facebook spreads out the solution to the rest of its 780million users!  Forget about how many employees Instagram has, or its historical revenues or its assets.  In an innovation economy, if you have a product that 35million people hear about and start using in less than a year, you have something very valuable!

Kudos go to Mark Zuckerberg as CEO, and his team, for making this acquisition so quickly. 

Greed or fear.