A recent report has been claiming that the recent decision taken by Instagram calls for it to justify it being a business entity. It is being said that a change in Terms of Service (TOS) not in favour of customers questions its billion dollar price tag.
Though, the change that is allowing the company to use the pictures of users by granting the company some binding rights was not unexpected. It is being said that users might probably had other monetization ideas like pro accounts or in-app advertisements in their minds.
The online photo-sharing service, also a social networking utility, as per the findings, would have the right to sell said images with no payment to the user concerned. It is being said that the change would allow it to deny even a single cent to user.
A chaos has arisen with the post, but the company now is saying that the updates reflecting the same would be removed. And they have no intentions to own users' photos.
"I'm writing this to let you know we're listening and commit to you that we will be doing more to answer your questions, fix any mistakes, and eliminate the confusion", co-founder of Instagram Kevin Systrom's blog post read.