Versagram is an app that allows users to post text status updates in Instagram. Users can select from different backgrounds/pictures and add their own text or select from a list of celebrity quotes; the text is then overlaid in front of the picture. With this users don't have to choose between a text or picture status but can now do both on Instagram. Current estimates tell us that the app has been downloaded 3 million times since it launched in the App Store in February and that it's currently being downloaded between 6,000 and 10,000 times a day. The majority of users are under 16 and even with a large subset under 13 (which is also the official cut-off for Instagram and other social-media sites).
Versagram follows a freemium model where it is free to download the app and users can purchase additional backgrounds/themes. Additionally, Versagram plans to sell advertising in its app much like many other apps. This may be a new way for companies to target a specific "tweens" consumer base.
http://adage.com/article/startup-watch/versagram-lets-tweens-talk-instagram/238431/
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