Facebook News Byte: Instagram Isn't Killing Vine's Growth

Wochit 0:56 mins

Perhaps Facebook?s Instagram video product isn?t the Vine killer some thought it would be. Vine was the No. 1 most downloaded non-game app in Apple?s App Store for the month of June, according to analytics website App Annie, beating out Instagram, which landed in fifth place during the same period. Facebook is about to take its most intrusive advertising to a new medium-video-and it could be the most annoying yet. It's finally happened. Some fourteen and a half months after its IPO, Facebook shares closed above its IPO price of $38/share for the first time since the date of its IPO. Investors who bought shares in Facebook's IPO and held until now are a whopping 5 cents in the money.

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