The mainstream social media Facebook, Twitter and Google+/YouTube are usually referred to as The Big Three. But for the young audience, there is another Big Three: Instagram, SnapChat and Tumblr. Not only are they extremely popular with teenagers, they are also breaking into the mainstream and Instagram is now the number two social network in the world. That means that Facebook Inc. is sitting on the first two podium places. Imagine if they roll out WhatsApp as a full scale chat driven social network, too. That could mean a top three for the community company in Menlo Park if they play their cards right. Where are Apple and Microsoft? Who will buy Twitter? What is Google going to do with Google+? The social space race is on.
Bloomberg's Cory Johnson reports on Instagram overtaking Twitter. He reports on "Bloomberg Markets."