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Who Owns Instagram?
Who owns Instagram? In the past, it was a site that simply shared images, but now it has filters and instant messaging. Formerly, the company was owned by two San Francisco software engineers. The company’s focus started out as a photo sharing site, but quickly expanded to video and other types of media. It was bought by Facebook in 2012, but is it still owned by Mark Zuckerberg and Kevin Systrom? Read on to find out.
The Facebook-owned photo-sharing app is making waves in social media, especially among younger consumers. The recent Pew Research study found that the majority of Americans did not know that Facebook owns Instagram or WhatsApp. And nearly 70 percent of those surveyed had no idea that Facebook owns these two services. However, despite the high-profile news, most people have favorable views of both companies. A quick Google search will reveal the answer to this question: “Yes, Facebook owns Instagram.”
The acquisition of Instagram gave Facebook an additional ad platform for its platform. In 2013, Facebook formally launched an ad platform for the app. To develop Instagram, Facebook hired most of its employees from Android photo-sharing app developer Lightbox, which shut down and was removed from app stores. This may interest you : How to Use Instagram Live Chat As a Marketing Tool. Like Instagram, Lightbox also had a social media platform with many features similar to Instagram. In addition to hiring former employees, Facebook also hired the founders of Instagram and Whatsapp, as well as its current CEO.
Kevin Systrom
As of late 2018, Facebook’s $1 billion acquisition of Instagram has made Systrom a billionaire. Instagram was originally created in 2010 in a co-working space. The app soon surpassed one billion users. To see also : How to Find Liked Posts on Instagram. In 2012, Systrom and co-founder Mike Krieger sold the service to Facebook. The acquisition helped Instagram grow to more than 400 million users. During his tenure as CEO, Systrom helped develop the X-Pro II filter, which allows users to take a burst of five photos in a single second.
After graduating from college, Systrom worked for Nextstop, a social travel recommendation service founded by two former Google employees. The company allowed him to focus on his coding and other business decisions. During this time, he made the decision that his future lay in entrepreneurship and started his own business. Eventually, he decided to launch a platform for users to post photos and videos. A year later, the platform was used by over a billion people.
Mike Krieger
The entrepreneur Mike Krieger has been the owner of Instagram since 2010. He was a Stanford classmate of Kevin Systrom’s who created the social location app Burbn. Instagram merged photo filters with a social feed. This may interest you : How to Delete All Posts on Instagram. When Facebook bought Instagram in 2012, Krieger spent years fighting server fires, anti-spam issues, and other challenges. Facebook provided the resources necessary for Instagram to grow and flourish. The Instagram founders should be proud.
He was enthusiastic about the camera-equipped mobile phone that was available in stores. He believed this was the turning point for Instagram’s success. Today, 65% of people outside the United States use the app. The founders were smart in their approach and never gave up. They talked to other founders and sought feedback from friends and partners. Their success story inspired many others to start their own businesses. Mike Krieger’s stake in Instagram is estimated to be worth $100 million.
Mark Zuckerberg
It seems that Mark Zuckerberg owns Instagram. That’s not surprising considering that he founded the social networking site. Systrom has a lot to prove to the public and the social media giant, and the deal between the two is a win-win for all parties. While the Instagram deal won’t help Facebook’s overall stock value, it would give the company a boost, especially with the help of a big company like Facebook.
Facebook acquired Instagram for $1 billion in 2012. Before acquiring Instagram, Zuckerberg had already bought Beluga, a messaging service that would have rivaled the Messenger. He also bought Onavo, a company whose technology allowed users to save data on mobile devices. This acquisition gave him access to an enormous database of user data. Mark Zuckerberg owns Instagram and has a presence on both platforms. If you want to know more about Facebook’s business strategy, read on:
