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Facebook bought the no-revenue, 12-employee, 15-month-old Instagram for $1B yesterday. While on the surface this may appear to be a low-IQ, or perhaps no-IQ acquisition, there is a compelling reason for Facebook to own the photosocial site. The App Internet is approaching -- an architecture of powerful applications resident on phones, tablets, PCs, and other devices which seamlessly link to resources in the cloud. iOS and Android applications are primitive forerunners of this world. Over time this approach will become dominant. The Web will become the AM radio of digital.
Today, the Special Committee of Dell’s Board of Directors filed the preliminary proxy statement regarding the proposed transaction, in which Michael Dell and Silver Lake Partners will acquire Dell and take it private. In light of the proposed transaction we have set up a web page for investors to quickly access material related to the transaction. Take a minute to check it out here . The site includes an overview, all related press releases and the preliminary proxy filed today. 1) The filing of the preliminary proxy begins what is expected to be an extensive review process by the U.S. Securities and Exchange Commission which could last approximately five to ten weeks. Following this review, a final or “definitive” proxy will be filed and include announcement of the date and time of a Special Meeting of Stockholders to vote on the proposed transaction.