Similarly, four key elements are necessary to begin the process of viral growth for a platform business—the sender, the value unit, the external network, and the recipient. Let’s consider the viral growth of Instagram: • The sender. A user on Instagram shares a picture that he has just created. This launches the cycle that will eventually bring in a new user. • The value unit. On Instagram, the value unit is the picture that the user shares with friends. • The external network. For Instagram, Facebook serves as a very effective external network, allowing value units (photos) to spread
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