[toomuchtodo]

A business model insinuates a viable ongoing business, where you have customers, and profit. You know, an "ongoing concern".

Being bought because you're shiny? Not a business model. To say Instagram has a business model is to insult every hacker/doer/entrepreneur who is actually trying to build a real business.

[Skibb]

That is so true and I already got -2 points for trying to same the same thing in another comment.