Mark Zuckerberg, the founder of Facebook, acquired Instagram in 2012 and forever changed the digital landscape. Prior to this purchase, Instagram was a small start-up company with a few million users. After taking over as CEO, Zuckerberg strengthened and developed the platform, leading it to become one of the largest social media networks in the world.
When Zuckerberg bought Instagram, the company was only about two years old. At the time, it had millions of users who were enthusiastic about the intuitive photo-sharing applications. Zuckerberg saw the potential of the platform and decided to invest in it, despite the valuation being a steep $1 billion. With regards to the purchase, Zuckerberg stated that the goal was to produce a widely-used product that was ahead of its time.
Upon acquiring Instagram, Zuckerberg and the team created a long-term strategy to develop the photo-sharing application. The founders introduced business features such as targeted advertisement and implemented a cross-platform approach, allowing users to login to Instagram using their existing Facebook credentials. This effort resulted in the massive growth of the platform, which currently enjoys over one billion active monthly users.
Experts have attributed the success of Instagram to the implementation of an intuitive user-experience. Even before Zuckerberg acquired the app, Instagram had shown remarkable success in customer engagement, something which set the photo-sharing application apart from its competitors at the time. It wasn’t long before the platform had attracted numerous advertisers who, leveraging the robust marketing tools presented by Instagram, managed to target their campaigns towards the right audiences.
It has also been suggested that Zuckerberg’s leadership at Instagram was hugely beneficial and highly instrumental in the platform’s prosperity. Soon after buying the company, he imposed a clear vision and strategy that helped lay the groundwork for the company’s growth. It’s worth noting that Zuckerberg managed to acquire Instagram while facing considerable opposition from many of Facebook’s board members. This was largely because $1 billion was seen as an exorbitant sum of money for a two-year-old start-up with a few million users.
It was Zuckerberg’s shrewd insight which saw the purchase through and today, Instagram is believed to spearhead the digital photography movement with its unique style, features and interface. This development springs from Instagram’s initial intent to provide a space for users to share self-expression and the unique forms of culture that arise from this. In other words, Zuckerberg saw potential in the platform due to its cultural relevance and not its technical prowess.
Early Beginnings
The story of Instagram begins with the idea of two Stanford University Graduates, Mike Krieger and Kevin Systrom. This innovative duo aimed to cultivate a versatile, affordable application that would allow individuals to portray visual narratives through photography. Both Krieger and Systrom had already gained experience in the industry and in 2010, they created Instagram and launched it as an application on the Apple App Store.
But the journey of Instagram didn’t end here. After some time the application gained tremendous popularity and investors were quick to realize its potential. Thus, a series of heavy investments were pumped into the early development of the platform and within two years, the platform had gone from being valued at $500,000 to a whopping $1 billion. To cement the growth, an affiliation with one of the most successful social media networks became a necessity.
It was at this critical juncture that Mark Zuckerberg stepped in and bought Instagram for Facebook. He saw the potential of the innovative photo-sharing application and was quick to realize the benefits of having a highly interactive platform with such potential.
Amassive Prospect
With Facebook’s billion-strong user base and the on-boarding of Instagram’s 100 million users, Zuckerberg immediately identified the opportunity to create a massive presence in the digital media industry. He also saw a chance to integrate Instagram with other social networking platforms, thus allowing users to gain access to Instagram via Facebook.
Prior to the merger, Facebook had been struggling against its competitors and had failed to capture the selfie and live-photo feature market. With the help of Instagram—which was already popular with users—Facebook was able to calculate the demand for a photo-based social media platform. In an effort to ward off competition, Zuckerberg invested in Instagram to create an all-round platform that would rule in the digital photo market.
facebook and Instagram had a mutual potential for growth and the merger helped fulfill this. Instagram continued to develop and take advantage of Facebook’s datasets, experiencing tremendous user growth and revenue. The app also started to expand its feature set, introducing stories, insights for businesses, and other interactive mediums, which further contributed to the exponential growth of the platform.
Rival Competition
The acquisition of Instagram marked the beginning of the competitive era between Facebook and other potential competitors. These included, but were not limited to, other social media rivalries such as Twitter, Snapchat, and Google Plus. Twitter had already been taking away Facebook’s user attention with its short, bite-sized tweets, whilst Snapchat promised an entirely new live-photo feature.
Numerous other companies were starting to take advantage of the photo-sharing market, which posed a huge threat to Facebook. In reaction to this, Zuckerberg decided to invest in Instagram in a bid to establish and maintain a share of the competitive photo-sharing market. While this allowed Facebook to maintain its competitive edge in the industry, it also protected its userbase.
Facebook was able to use Instagram as a tool to learn and understand a whole new digital media realm. With Instagram’s analytics, Facebook was able to better study and understand user patterns, tailor newsfeeds, and personalize user experiences. Instagram also helped Facebook prepare for new platforms and develop products to bring in more users.
The Impact
Since the merger, Instagram has seen tremendous growth, boasting over one billion active users every month. It has also become a powerful force in the digital industry and has helped shape the entire photo sharing market. Several other social media networks have now adopted photo sharing features, and Zuckerberg has successfully established one of the most successful companies in the industry.
The story of the merger between Facebook and Instagram serves as an interesting case and provides insight into the importance of taking calculated risks. Zuckerberg’s move to buy Instagram—despite its $1 billion price tag—was viewed as an unconventional and courageous choice by many. But he was definitely proved right as the purchase transformed Facebook into one of the most powerful entities in the tech world.
The rise of Instagram over the years is also a testament to the power of digital photography and creativity. Instagram has allowed users to express their creativity and individuality in a digital space, a platform which is still heavily supported today. This platform has become a safe and inspiring place for users to document their lives, creating stories and memories through a digital medium.
Global Platform
The exponential growth of Instagram since its initial purchase by Zuckerberg also serves to highlight the global reach of social media technology. Instagram is now available in over 80 languages and boasts a global presence. It has also become a powerful tool for communication, allowing people from all parts of the world to connect with each other. This global exposure has helped accelerate the growth of Instagram, increasing the reach of the photo-sharing application.
Mark’s decision to purchase Instagram has had an important result on the way user interaction with digital media is seen today. The platform has dramatically improved and changed over the years, shifting away from the initial focus on photographs and towards an evolved form of multimedia storytelling. This has allowed users to showcase their uniqueness and make meaningful connections in a digital realm.
The popularity of Instagram has also led to an increase in the demand for photography services. Professional photographers and photo-editing services are now in high demand, as users continually strive to showcase their work through the app in a highly creative manner. This rise in demand has allowed skilled professionals to benefit from the platform, creating a whole new industry based on digital content creation.
Evolving Landscape
The legacy of Instagram has extended far beyond the digital space, with its features and visuals becoming commonplace in our everyday lives. From product branding and marketing to visual storytelling, Instagram has changed the way we view digital content and interact with it. This has had subtle but profound implications on our way of life, altering the way we communicate, tell stories, and create content.
Today, Instagram’s influence is undeniable, and it stands as one of the biggest success stories in the tech industry. The purchase of Instagram by Zuckerberg is now seen as a watershed moment in the platform’s history, and the opportunity to look back and analyse the following steps taken is invaluable.
But beyond the financial and technical dimensions of the story, Instagram’s success is also reflective of our times. We are in an age where interconnectedness is now the norm and our digital footprints are becoming larger and more powerful. Instagram provides us with an insight into the potential of digital platforms, and highlights the potential that can be achieved by harnessing these tools when used responsibly.
