Instagram Net Worth 2024

Many of us are funs of Instagram but very few take time to figure out what Instagram is all about, who the founder is and when it was founded. This explains the reason why we thought of coming up with this article to try and answer all the questions you have about this social networking service. If you want something that is more updated with current news, Instagram does better compared to all the other social networking services. This explains the reason why Facebook decided to acquire it at such a high price. They saw what many people could not see in Instagram.

In the simplest terms, Instagram is an American video and photo sharing social networking service that was created by Mike Kriegler and Kevin Systrom. The Instagram app makes it possible for users to upload media like video and photos that can be edited using filters. These are then organized by use of geographical tagging and hashtags. You can share your posts either publicly or with pre-approved followers and you can browse content of others users by tags and views. This helps you view trending content. To add other people’s to your personal feed you can like photos or follow them.

Well, how well do you know about Instagram? If not much, we have compiled all you need to know about Instagram’s net worth in 2024, wiki and complete details. Well, if you’re all set, here is what we know about Instagram to date.

Inception

Instagram was initially released on the 6^th of October in 2010 and it was initially meant to be used by iOS users only. This service gained popularity in such a high rate superseding the founders’ expectation. In two months, they had managed to have over 1 million registered users and by the time they were celebrating their first anniversary, the registered users were over 10 million. As of June 2018, eight years after it was founded, the site had over 1 billion users. In April of 2012, they managed to release the Android version which was followed by what they called a featured-limited desktop interface released in November the same year.

A fire OS app was released in June 2014 and in October 2016, they released an app that would work on Windows 10. By the close of October 2015, they had recorded a total of more than 40 billion photo uploads. Although many people praised Instagram for its influence, there are other who criticized it especially due to interface and policy changes, illegal or improper content uploads and allegations of censorship by users. This however didn’t deter them from working on what they believed was their dream.

Evolution

The more users they had, the more famous they became. Many celebrities are also taking it as the best platform of connecting with their fans. As of January 2021, Cristiano Ronaldo who is a Portuguese professional footballer was the most followed person with over 275 million followers. As of 14^th January 2019, the most liked photo on this platform was that of an egg that had been posted by @world_record_egg.

The main purpose of the egg was to surpass the previous record of 18m likes which had been recorded by Kylie Jenner post. The picture has today surpassed the target set as it has accumulated over 55 million likes. Instagram was rated 4^th on the most downloaded mobile apps developed in 2010s.

The first post on Instagram was a South Beach Harbor photo at Pier 38 and it was posted at 5:26 PM on 16^th of July in 2010 by Mike Krieger. A few hours later at 9:24 PM, Shystrom’s first post which was a photo of his girlfriend’s foot and his dog was uploaded. This has however been mistakenly attributed as the first Instagram photo.

Instagram iOS app was officially released on 6^th of October in 2I010 and this was done through the App Store. In February 2011, there were reports that Instagram had managed to raise a total of 7 Million US dollars in Series A funding. This had been contributed by different investors like Jack Dorsey, Benchmark Capital, Adam D’Angelo and Chris Sacca (through Capital Fund). This was a great deal as it valued Instagram close to $20 million.

Awards and Nomination

Instagram has been in the market for a short time now but it has already managed to achieve so much appreciation in the business world. For this reason, it has already started attracting various awards and nominations. Some of these include; Best Mobile App runner-up in January 2011 at the 2010 TechCrunch. In May 2011, Instagram CEO Kevin Systrom was listed at number 66 in what’s known as The 100 Most Creative People in Business in 2011. These are just a few of the recognitions Instagram has received over the years.

Net Worth & Earnings of Instagram in 2024

It is not easy to find out the financial status of Instagram. This is because, they talk much about their achievement but they avoid talking about their earnings and profits of running the business. However, in 2012, Facebook decided to buy this platform for about $1 billion. This signifies that it was worth that much or they saw its future. As of 2024, this has turned to an estimated net worth of $100 billion which is very quick growth within such a short time.

What started as a simple way of enjoying a unique way of sharing photos and videos on social media has now turned to a great social networking service. Everybody is now talking about Instagram and especially celebrities and the young generation. At the same time, entrepreneurs are now finding it the cheapest and easiest way of advertising their products than any other social media platform.