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Facebook's Instagram Launches Boomerang Mini Video App

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Instagram, the photo-sharing platform owned by FacebookFB , has unveiled a 1-sec video app called Boomerang. The app has already been rolled out for iOS and Android devices.

This new app is quite similar to the Live Photos feature on Apple's AAPL iPhone 6s but is handier given its ease of creating and sharing videos. Similar to Live Photos, Boomerang also captures a string of pictures to form mini videos but conveniently saves them in the standard video formats (unlike iPhone).

This makes it much more user-friendly as these can be shared across social media sites like Instagram, Facebook, Twitter TWTR or even through email. In addition, this app can be used by those who are not registered on Instagram.

Facebook has been propping up Instagram. The company has not only expanded its advertising offerings in the recent past but also taken a number of initiatives to boost user base. These include adding more features to the platform to launching standalone apps like Boomerang. Prior to this, Instagram had launched several other standalone apps like 'Layout' for creating photo collages, 'Hyperlapse' for making time lapse videos and even a photo-sharing app named 'Bolt.'

Instagram was acquired by Facebook in 2012 for about $1 billion and since then has gained immense popularity. In September, the platform crossed 400 million monthly active users, surpassing peers like Twitter (316 million) and Pinterest (100 million).

A survey report from eMarketer (Sep 23, 2015) projects that Facebook will generate about $600 million in revenues from Instagram in 2015 (nearly 5% of Facebook's total mobile ad revenues). Moreover, the report forecasts that Instagram will record growth of 149% in 2016 leading to ad revenues of approximately $1.48 billion.

Facebook at present sports a Zacks Rank #1 (Strong Buy). Another similarly ranked stock that can be considerd is MeetMe MEET .

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FACEBOOK INC-A (FB): Free Stock Analysis Report

APPLE INC (AAPL): Free Stock Analysis Report

TWITTER INC (TWTR): Free Stock Analysis Report

MEETME INC (MEET): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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