Instagram proves a winner for Facebook

After buying Instagram for US$1 billion in 2012, analysts at Credit Suisse now expect Facebook will get more than triple that price tag in revenue from the photo sharing app this year alone.

"We are now forecasting $3.2b in revenue contribution from Instagram in 2016," analysts led by Stephen Ju said in a recent note.

Pope Francis to debut on Instagram

After making his social media name with a Twitter following that now reaches almost 9 million, the pontiff is now prepping for a debut on Instagram, the photo sharing site and cell phone app.

The pontiff's handle will be Franciscus, according to

Instagram images no longer all square

Until now, images shared via the site could only be uploaded in a square format.

Disney, maker of the new Star Wars film, has already taken advantage of yesterday's change to upload a landscape-orientated teaser video.

Instagram recently announced plans to carry more advertising.