Seems that Twitter it's self is trying to fill the hole left by Instagram.
http://allthingsd.com/20121208/twitter-aims-to-release-photo...
http://allthingsd.com/20121208/twitter-aims-to-release-photo...
[1] We've debated the death the 'value' of this deal which was half stock (which tanked) and half cash. But for the purposes of this point it was a 'big chunk of change' for the newly public Facebook.