The social media platform Instagram was created in 2010 by Kevin Systrom and Mike Krieger. The app was acquired by Facebook in 2012, which bought the app for $1 billion in cash and stock.
Since then, Instagram has evolved to include IGTV, Reels, and Vertical Stories. The platform also features an Explore page — to feature trending tags and places — filters, and Highlights.
Instagram has also launched standalone apps such as Boomerang and Hyperlapse. Today, Instagram is available in 32 countries and has over 1.3 billion users worldwide.
Founders: Kevin Systrom and Mike Krieger
Launch Date: October 6, 2010
Instagram Accounts With the Most Followers:
- Cristiano Ronaldo (365 million)
- Leo Messi (280 million)
- Kylie Jenner (280 million)
- The Rock (277 million)
- Ariana Grande (275 million)
- Selena Gomez (272 million)
- Kim Kardashian (262 million)
- Beyoncé (218 million)
- Justin Bieber (203 million)
- Kendall Jenner (199 million)
Who owns Instagram now? Facebook Inc purchased Instagram in 2012 for $300 million in cash and 23 million shares of stock. It was reported that Kevin Systrom made $400 million from the sale. In 2021, Mark Zuckerberg announced Facebook was changing its company name to Meta. Facebook also owns WhatsApp, Oculus, and CTRL Labs.
How does Instagram make money? According to Bloomberg, Instagram makes a majority of its revenue from advertising and Instagram Shopping.
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