By Joel Heffner
Yes, you too can create your own iPhone App...for $500,000. That's what the folks who created Instagram, a photography App for the iPhone are doing. Using $500,000 in seed money (according to their own FAQ) they have created Instagram. With Instagram, you can create some interesting effects and then put the image online. Not the best effects and not the best online interface, I may add. It looks like you can do wonders if you know the right investors.