Facebook's Instagram deal -- bubble indicator or smart acquisition?

Reblogged from GigaOM:

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It might have been just a regular Monday for most people, but the Silicon Valley/social-media sphere was rocked by a major bombshell: Facebook co-founder and CEO Mark Zuckerberg announced in a blog post that the giant social network is acquiring the popular mobile photo-sharing app Instagram for $1-billion in cash and stock. Om has written about why the purchase makes sense for Facebook…

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