Impact Of Social Media On The Business World And Our Life Essay

Impact Of Social Media On The Business World And Our Life - Essay Example The researcher states that it is important for people to understand how they are going to use social media for their betterment, and also how the businesses can use this platform in order to enhance their revenue. Regarding social media and the popularity of emerging names in social media, two names that come to mind are WhatsApp and Instagram. Instagram is essentially a photo-sharing and video-sharing online service, which is available on platforms such as Apple, Windows, and Android. Likewise, WhatsApp is a messaging and photo-sharing app. which has gained immense popularity in the last 2 years. Both Instagram and WhatsApp incidentally share a common aspect; they both have been acquired by the social media behemoth Facebook. The amount paid to acquire Instagram and WhatsApp has been $1 billion and $16 billion respectively, therefore reflecting the profit-generating potential of social media platforms such as these. Almost 70% of the mobile users used internet on their mobile device s. With the increasing popularity of smartphones and other mobile devices, especially the Android-based ones, the social networking foray started to think how they can reach as many numbers of users as possible through their new and innovative ideas. This thinking created the need for generating a mobile messaging app, which is popularly known as Whats App. This popular mobile messaging service has almost 70 million active users every month. This shows how much people are using social networking in their everyday life. Instagram, the photo-sharing app over the internet, was acquired by Facebook for $1 billion. This acquisition had been buzzing over the media as hot news.