Facebook’s $4.4 billion social media purchase of Instagram will help expand its platform and help the social media giant become a leader in the social video business.
According to a new report from TechCrunch, Facebook is also working on a new way to monetize video on its platform.
The deal is the latest example of how Facebook has made its platform more appealing to advertisers, who are increasingly demanding video advertising on the platform.
According the report, Instagram’s revenue will be used to pay for the purchase of ads and content.
The acquisition is being done to boost the video platform by paying for ads that will run on the site as well as a number of other things.
The deal also includes a number in-app payments for users to watch and subscribe to videos.
“We’re taking Instagram’s massive audience, more than 25 million monthly active users, and building a platform that is built on our platform,” Facebook COO Ben Bajarin said in a statement.
“The acquisition also represents another big step for Facebook, as it continues to be the dominant platform for social video content and has already proven to be one of the most successful in terms of engagement.
Facebook is the leader in video content, but we’re not just a video platform.
We’re the platform of choice for advertisers looking to reach their audiences across devices and platforms.
We look forward to continuing to build a world-class video platform for Facebook users.”