Instagram is a mobile photography community where people can immortalize their visual experiences and share their photos on different platforms with simple filters. Instagram, one of the world’s most popular photo and video sharing platforms, was founded in 2010 by Kevin Systrom and Mike Krieger. People loved it in a short time thanks to its filters that make the photos more beautiful. In addition, users had the opportunity to instantly, conveniently and quickly share the photos shared on Instagram on other social networks. However, one of the top reasons behind the rise is Facebook’s takeover of Instagram. Why was Instagram, which is growing and gaining popularity, sold to Facebook? How much did Facebook buy Instagram for? Here are all the details …
Instagram was first developed in San Francisco under the name Burbn. This was a mobile check-in app. The founders focused on their app’s photo sharing feature. The Instagram app was renamed by combining the words “Instant” and “Telegram”. Instagram reached 200,000 users in the first week.
Founded in December 2010, the company received $ 7 million in funding from a group of investors through February 2011. At the end of the fundraising process, the company was valued at $ 20 million. Instagram had a team of 13 in 2012. It only had 27 million users. In 2012, Facebook bought Instagram for a full $ 1 billion. Although Instagram’s digital photo archive is very small compared to Facebook, it is of strategic importance for a number of reasons. “Photo sharing” plays a very important role in Facebook’s corporate strategy and it becomes clear at every opportunity. 250 million new photos are uploaded to Facebook every day. It’s not hard to see that the biggest achievement that sets this social media giant apart from other websites is in sharing and tagging photos.
Mark Zuckerberg, Founder and CEO of Facebook, wrote in a post: “For years we have focused on creating the best photo sharing experience with friends and family. Now we can work even closer with the Instagram team to provide the best experiences for sharing beautiful mobile photos with people who match your interests. “
“This is an important milestone for Facebook as it is the first time we have acquired a product and a company with so many users. We don’t plan on doing much more of this, if at all. However, the best photo sharing experience is one reason so many people love Facebook, and we knew it would be worth bringing these two companies together. “
Why is Instagram so popular?
The reason why Instagram is so popular is that users can easily modify photos any way they want for free through Instagram filters and convert them to professional photos. In addition, users can instantly share those photos that they have enriched with various effects with their friends. In this regard, Instagram is not only a photo editing tool but also a social network.
After Facebook bought Instagram, Instagram became a completely different application by adding features like adding video, sponsored content, business accounts, story functions, and camera filters. The new features added to continue this surge in Instagram and increase the number of users even further are bringing successful results. As such, the idea began to dominate that there are no limits to the innovations of the application. The Stories section of the app has been constantly updated and many more adjustments have been made. What other features could be added was a matter of curiosity. However, the new information emerging shows that, as expected, there is no limit to Instagram updates and even new updates are quietly tested.
With all of these features, it had 879 million users as of the end of 2019 and was worth $ 100 billion. The value of Instagram has increased 100 times in 8 years, making it a very lucrative gateway for Facebook. Instagram is projected to reach 2 billion users by 2023.
Instagram and digital marketing
The app is also used as an e-commerce platform. It has become unique in the field of digital marketing. This is another factor that makes Instagram special and important. Business sales on Instagram have shown that Instagram is not your ordinary social network or photo editing / sharing application. Instagram offers brands a unique opportunity to engage in meaningful visual communication with their customers.
Users who take strategic steps have started generating income from Instagram. Features like sponsored ads, product labeling features, company account creation, and statistics have made things easier for brands that sell and market here. For example, thanks to product labeling, users have the option to visit the Instagram store of the brands they follow.
In addition, accounts with a lot of likes and followers are increasingly referred to as “influencers”. Influencers and companies have reached out to more people and increased their income through ad serving and collaboration. If you are not using Instagram to promote your brand, consider how you can rate the app and its tools to improve your current communication strategy.
Instagram has gained an important position among all social networks in terms of branding and advertising, which has been expanded thanks to the possibilities of Facebook.
Also, Facebook paid $ 19 billion to buy messaging company WhatsApp in 2014. Facebook founder Mark Zuckerberg plans to destroy all independence by creating a single system that rules Messenger, WhatsApp and Instagram and its backends brings closer to his social network. This consolidation can benefit billions of users, such as sending messages between apps for everyone. Contrary to a waning trust in Facebook and bad rumors among the founders of Silicon Valley, the Facebook CEO wants more control over the leading apps. It was stated that all three services will continue to operate as independent applications, but that the basic messaging infrastructures will be combined. The messaging infrastructures of Instagram and Messenger have already been combined. You can send messages in conjunction with Facebook Messenger and Instagram DM.
FAQs about the functions of Instagram
It is a fact that the number of current Instagram users worldwide is more than 1 billion.
You can only create one account with one phone number on Instagram.
Instagram’s multiple accounts feature allows you to use 5 different accounts at the same time with a single application
In order to get likes and followers on Instagram, you should implement some strategies using Instagram features. You can check these details in our other blog posts. You can also reliably buy likes and followers from our website.
To make money on Instagram, you can post ads from your profile or create sponsored content.
Completed the purchase of Instagram
Facebook bought Instagram for $ 1 billion in 2012. It also bought WhatsApp, an online messaging application, in a deal for $ 19 billion. This is the biggest purchase Facebook has ever made. Facebook continues to add many features after purchasing Instagram. The popularity and value of the application are increasing day by day. In this article, we talked about how much Facebook bought Instagram, which currently has more than 1 billion active users. If you like our article, we encourage you to take a look at our other blog posts on social media platforms.