Instagram starts to get slimy
The popular photo app, now owned by Facebook, has a few surprises in store for users. You might find your picture in a Facebook ad now.
Facebook announced several changes to Instagram this week. Starting Jan. 16, it will have access to all of Instagram's user data. And Facebook can share all of that information with advertisers and outside affiliates.
And in a disturbing new trend, Facebook says it doesn't even have to label the ads as advertisements. Finally, while Instagram has a minimum age of 13, the images of users under age 18 can also be used in ads without permission.
The new policies are drawing outrage from all corners of the Web. Money manager Barry Ritholtz wrote Tuesday that he deleted his Instagram account. "At this rate, its only a matter of time before Facebook gets deleted," he added.
The singer Pink had this to say on Twitter, in capital letters: "I WILL BE QUITTING INSTAGRAM TODAY. WHAT A BUMMER. YOU SHOULD ALL READ THEIR NEW RULES." One photographer asked, "Do I really have to end my love affair with #Instagram" and added the #instafail Twitter hashtag.
But Henry Blodget, the founder of Business Insider, said he doesn't think anyone will care. Instagram might lose a few thousand accounts, he said on Twitter, but that's hardly a dent to its base of 100 million.
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[BRIEFING.COM] Equity indices settled on their lows following a steady, session-long slide. Similar to yesterday, small-caps paced the retreat as the Russell 2000 fell 1.6%, extending its December loss to 3.6%. The S&P 500 settled lower by 1.1%, widening its month-to-date decline to 1.3%.
There was no specific news catalyst behind today's slide, which had the markings of broad-based profit-taking. Seven of ten sectors settled with losses of 1.0% or more while only two groups ... More
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