Instagram, which is also known as Insta or IG, is a photo and video sharing social network which is owned today by Facebook Inc. Instagram was founded in 2010 by Mike Krieger and Kevin Systrom. Today Instagram app has over 1 billion active monthly users making it one of the largest social networks in the world. Having been bought by Facebook Inc for $1 billion in cash and stock, one might just wonder exactly what the real net worth of Instagram is.
Below is a summary of Instagram, its inception, evolution, and basically its net worth. Stick around and get to learn how one of the world’s biggest social networks came to be.
Inception
Instagram application development started in 2010 and was created by Mike Krieger and Kevin Systrom. The two innovators got a seed fund of $500,000, and on July 16, 2010, the first Instagram post was made. The app was first released on iOS on October 6, 2020, and on April 3, 2012, the Android version was released in the play store. In 2011 just before the android version was released, Instagram got $7 million and $50 million funding from Series A and Series B funding rounds.
Evolution
Facebook Inc. purchased Instagram on April 9, 2012, for $1 billion in cash and stock. The deal saw Systrom earn $400 million. In 2014 the app had over 600 million users. Today the app has made it easy for users to upload photographs, videos, and even geotag images with the name of a location. One can make their account personal or private and also connect Instagram with other social networking sites.
Other features available on the Instagram app include exploring, which displays popular photos on the feed. There is also IGTV, which allows users to upload a ten-minute video with a size of up to 650 MB. Interestingly there is also Instagram Direct, which is a feature that helps users to interact through private messaging just like Facebook messenger. Instagram Stories is another feature that is available on the application and enables users to take photos and add a few effects before putting them on their Instagram story, where they expire after 24hrs.
Other than just being a social networking app Instagram has monetized the app through ads, and one can now be able to sponsor their products or services posts to get posts in front of more eyeballs. One can also create a business account which is meant for business alone and separate it from a personal account.
Today Instagram has over 1 billion users, and still, it continues to grow as days pass by.
Awards & Achievements
Instagram Awards and Achievements are numerous, but just to mention a few, in 2010, the app became the runner-up for “Best Mobile App” in Tech Crunch Awards. It has also won awards such as Best Locally Made App, App of the Year, One of the most Influential Apps, Best Android Application, and fastest-growing mobile app in the world, among others. Having reached 1 billion users mark, Instagram has become one of the biggest social networks in the world today.
Net Worth of Instagram in 2024
Wondering how much is Instagram worth? Well, today is the day we share precisely what is the real value of Instagram. As of April 2024, Instagram net worth is estimated to be over $110 billion or even more. In 2012 the application was sold off at $1 billion, and eight years later, it’s 100 times more valuable than its initial value. The deal saw Kevin Systrom, one of the Instagram founders make $400 million. Today Instagram is one of the most valuable social networks in the world today.
With over 1 billion monthly users and the fact that the app is registering new 600 million user’s everyday one might actually dispute the net worth figures considering their millions of advertisers. Instagram makes its money from advertisements, and it’s reported in Q2 2018 it made $2 billion. With such figures, Instagram revenue annually can be estimated to be over $20 billion.
Instagram net worth, even though it is an estimate, you can be sure they have surpassed the $100 billion mark. The app is one of the greatest inventions, and more is yet to come now that Zuckerberg owns the app. If you’re in business, you can’t afford to be locked out, so you better go there, install it and add one more sales channel to your list.