No meaningful revenue either  

Dustin just highlighted an important part of Facebook’s IPO registration statement. I’ve changed one word.

We believe that mobile usage of Instagram is critical to maintaining user growth and engagement over the long term, and we are actively seeking to grow mobile usage, although such usage does not currently directly generate any meaningful revenue.

Instagram is fun and the acquisition is brilliant for them. Yet I feel Facebook are compounding rather than solving the problem of revenue here.