Instagram is the 6th largest social media platform in the world, with over 1 billion unique users every month. So naturally, people are interested in who owns it. When you think about who created a social media platform, you tend to think it was a group of young techy guys who have just finished college. Well, Instagram is no exception! Instagram was founded by two young entrepreneurs, Kevin Systrom and Mike Krieger. Unlike the general college dropout trend, these two actually graduated from their university of Stanford. The pair worked at Google and Microsoft before meeting eachother during an internship at Systrom.
When Was Instagram Created?
Instagram launched as a standalone app on 6th October 2010 after raising $500,000 from Systrom for its development. From the very start, the idea behind Instagram was to allow communication through Instagram. Part of the reason why Instagram became popular so quickly was because this was such a revolutionary idea. Instagram showed a big contrast from the traditional communication methods of text and email. The team also grew to over 100 people, ranging from developers to marketers, business professionals and a full legal team.
Who Owns Instagram Now?
In 2012, just two years after its launch, Facebook bought Instagram for $1 billion, and is now the owner of the platform. The original founders no longer have any control of the app and are not on the board of directors. This means they cannot make decisions about the app’s new features or policies, this is now decided by Facebook and its directors.
A Timeline of Instagram’s Updates
Here is a timeline of Instagram’s major releases during its existence:
- October 2010 – iOS app launched
- December 2010 – Instagram reaches 1 million users
- April 2012 – Android app released
- May 2013 – Hashtag feature added
- November 2013 – Direct Messaging (DM) added to compete with competitors
- September 2015 – Instagram Ads is introduced to the app
- June 2012 – Instagram TV (IGTV) added
As Instagram is one of the largest social media networks in the world, its good to read some statistics in order to understand the massive scale of this platform. Here are just a few:
- 500 million people use Instagram every day, and over 1.1 billion people use it every month.
- 88% of people who are using Instagram do not live in the US.
- 71% of Instagram’s userbase are under 35 years old, with 72% of teenages in the US using the platform.
In terms of usage, Instagram also boasts some impressive figures:
- There are over 4.2 billion ‘Likes’ given out every day.
- Over 95 million posts are published daily.
- The most followed Instagram account is Cristiano Ronaldo with 157 million followers.
So, it’s safe to say that Instagram has become an astronomically popular platform. It’s amazing that an app created by two college graduates has now reached all corners of the globe and almost every household in the US. The power of the internet and technology is remarkable. Instagram has added numerous features over the years in order to keep up with the competition and keep users interested. This includes timelines, hashtags, and video sharing. It’s safe to say that many more features will be introduced in the future too as the technology progresses.