What was instagram sold for

With the deal, Instagram will gain massive design and engineering resources by joining forces with Facebook, a big change after running as a famously lean company with just a handful of employees. Still, the deal seems to let Instagram stay somewhat independent and maintain some of its company culture. This is a really big departure from the way Zuckerberg has historically run Facebook as a single product. He has always been insistent that everything feed back into Facebook itself.

Keeping Instagram as a separate product and brand is reminiscent of what Google has done with keeping YouTube and Android as separate fiefdoms within the company following their acquisitions. The early investors must be thrilled with the price. Mark Zuckerberg posted the following letter to his Timeline about the purchase:.

They scrapped Burbn and started over. It took several months of prototyping and experimentation. Yet the concept of photo-sharing kept calling out to them. A photo could be posted in as few as three clicks. Mirroring Twitter, they made Instagram public by default. After months of testing, Instagram launched on Oct.

For late when there were fewer iPhones on the market, that was a big number. After that, it was just a whirlwind ride. Instagram had nailed the timing. The iPhone 4 was just arriving and its camera was finally good enough to cannibalize point-and-shoot cameras. Apple also had an installed base of iOS devices that was now large enough to produce the network effects that Instagram needed to take off.

Instagram hit one million users in three months. Then that became two million, which then became 10 million users. It was organic growth. He often did this. In the middle of dinner. In a bar. Every month seemed more unreal. When Justin Bieber joined, there was literally a visible spike in activity as thousands of girls responded to his every photo. As the story goes, Systrom said no and Bieber ended up using it anyway.

Kevin and Mikey weirdly became celebrities in their own right. Krieger met Michelle Obama at the State of the Union. As part of our effort to improve the awareness of the importance of diversity in companies , we have highlighted the transparency of Meta's commitment to diversity, inclusiveness, and social responsibility.

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