And to think some are comparing this to Google, looks like a advertising agency (with a high multiple of sales) not a search engine that advertises (with a reasonable multiple of sales). XS
When will you learn that FB owns instagram and that the two are integrated. If you post on Instagram you can elect to have the post also appear on FB. When my daughter does that, I see "likes" on the same photo from different people depending on which app is used. FB's audience is simply segmenting according to Apps that are both owned by Facebook ultimately linked. And now with FB Paper, I would expect Instagram to have a similar upgrade to capture more user engagement and advertising possibility.
Maybe it's difficult for you to understand, but ADULTS are actually a huge market that advertisers want to get their ads to. Why? Because they have more money than kids. For every kid that leaves FB, more adults are joining. Myspace NEVER got to this point.