Instagram, also known as Insta or IG, is a photo and video-sharing social network currently owned by Facebook Inc. Instagram was started in 2010 by Mike Krieger and Kevin Systrom, both from California.
Instagram has over 1 billion active monthly users, making it one of the most popular social media platforms on the planet. Following Instagram's acquisition by Facebook Inc for $1 billion in cash and stock, one might be curious about the company's actual net value at this point.
The following is a brief overview of Instagram, including its inception, evolution, and, most importantly, net worth. Continue reading to find out how one of the world's most popular social networks came.
Instagram's User Base is Growing
Instagram will concentrate its efforts in 2022 on improving its expanding tools for businesses. It presently provides seven-day data, but it will include new features such as hashtag monitoring and the ability to see the best-performing postings in the coming year.
In addition, the platform will allow for the finding of brand ambassadors and the tracking of competitors. A terrific opportunity for any company was trying to reach a new audience, but keeping an eye out for changes to the platform as time goes on is vital.
Instagram has increased in popularity over the years and is no longer only a photo-sharing app for millennials. Even though its users are of a younger generation than many of its competitors, they are more involved with the site. The audience of 55-64-year-old men increased by 63.6 percent in the previous year.
In terms of audience size, it is only second to Facebook, which has the most significant audience and the most advanced targeting capabilities available to marketers.
According to a recent Morning Consult poll, 31 percent of adults in the United States have “very favorable” evaluations of the app's functionality. According to the study, twenty-four percent of the top mobile internet users visit Instagram at least once a month. That's roughly the same number of people who use Facebook, Google, and YouTube combined, and it's growing.
Instagram users spend an average of 29 minutes every day on the platform. According to the survey findings, Americans between the ages of 18 and 24 spend 5.5 hours per week on the forum, while children between the ages of four and fifteen spend over 40 minutes daily on it.
Instagram's Awards and Achievements
It is impossible to list all of Instagram's awards and achievements, but to name a few, the app was named runner-up for “Best Mobile App” at the 2010 Tech Crunch Awards. The app has also received other honors, including Best Locally Made Application, App of the Year, One of the Most Influential Apps, Best Android Application, and the fastest-growing mobile application in the world, among others.
Instagram has surpassed the 1 billion user threshold, making it one of the most popular social media platforms today, according to Statista.
What is the Estimated Value of Instagram in 2022?
As the epicenter of digital marketing and advertising, Instagram has increased its revenue from $17.7 billion in 2019 to $24 billion in 2020, a significant increase from the previous year.
Instagram is proving to be the virtual social media marketing platform, and this is without a doubt the case. According to a poll conducted this year, Sixty-nine percent of marketers in the United States would spend most of their budget on Influencer marketing on the Instagram platform in 2020.
In 2019, Instagram generated about $20 billion in income from advertising. Following the study findings, 72 percent of teenagers are Instagram users, with approximately 70 percent believing that Instagram is the best way for various brands to communicate with them.
Non-Americans account for around 89 percent of Instagram users. Surprisingly, almost 70% of individuals use Instagram to keep up with the latest products and services available.
During the same quarter, Instagram experienced a 209 percent year-over-year increase, while Facebook experienced a 17 percent decline.
Creation of Instagram
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Instagram application development started in 2010 and was founded by Mike Krieger and Kevin Systrom. The two entrepreneurs obtained a startup fund of $500,000, and on July 16, 2010, the first Instagram post was posted.
The app was initially released for iOS on October 6, 2020, and on April 3, 2012, the Android version was released in the play store. In 2011 right before the android version was released, Instagram secured $7 million and $50 million funding from Series A and Series B funding rounds.
Instagram Key Statistics
Instagram produced an expected $24 billion revenue in 2020, which was 36.9 percent of Facebook's total. We estimate that Instagram has 1.41 billion users. It last updated its figure in 2018 at 1 billion.
Instagram's top markets are India and the US, with 140 million users. Over 70 percent of Instagram users are under 35 years old.
Frequently Asked Questions About Instagram
Q1. How many times has Instagram been downloaded, according to the Instagram FAQ?
Approximate downloads of Instagram total roughly 3.8 billion times. During the decade of the 2010s, it was the fourth most downloaded app.
Q2. How many people are using Instagram Stories at any given time?
There are 500 million daily active users on Instagram, accounting for around one-third of the platform's overall audience.
Q3. What is the most popular Instagram account to follow?
Cristiano Ronaldo is the most followed Instagram user, with 465 million followers as of July 4, according to the platform.
Q4. What is the name of the most popular brand on Instagram?
Instagram has 424 million users and is the most followed brand, followed by National Geographic with 186 million subscribers and then Nike.