Not all social media platforms are created equal. And some of them have been considered trendier than others, as people migrate from one to another. We know all that. But what a lot of companies care about more is "where are the rich kids?"
Because it turns out not every social media platform has the same type of wealth represented. Instagram, which is owned by Facebook, is attracting a higher percentage of wealthy kids than its parent company, according to new data.
The founder of one online video company who spoke on condition of anonymity put it more succinctly: "Facebook is for poor people, and Instagram is for rich people.