Question
Download Solution PDFPresently, which company owns Instagram?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Facebook.
Key Points
- Instagram, a popular photo and video-sharing social networking service, is owned by Facebook, now operating under the parent company named Meta Platforms.
- Facebook acquired Instagram in April 2012 for approximately $1 billion in cash and stock.
- At the time of its acquisition, Instagram was a relatively small app with around 30 million users.
- Instagram is now one of Meta's core platforms, alongside Facebook and WhatsApp, and has grown to over 1 billion monthly active users as of 2023.
- The acquisition played a crucial role in Facebook's strategy to dominate the social media landscape and target younger demographics.
Additional Information
- Meta Platforms:
- Formerly known as Facebook, Inc., Meta Platforms was rebranded in October 2021 to reflect its focus on building the metaverse.
- Meta owns several major platforms, including Facebook, Instagram, WhatsApp, and Oculus VR.
- The metaverse refers to a virtual reality space where users can interact in a computer-generated environment.
- Key Features of Instagram:
- Instagram allows users to share photos, videos, and Stories (temporary posts that disappear after 24 hours).
- The platform includes popular features like Reels, a short-video sharing tool that competes with TikTok.
- It also supports direct messaging and business tools for advertising and sales.
- Other Major Acquisitions by Facebook/Meta:
- WhatsApp: Acquired in February 2014 for $19 billion.
- Oculus VR: Acquired in March 2014 for $2 billion to expand into virtual reality technologies.
- Giphy: Acquired in May 2020 for $400 million to integrate GIF-based content into its platforms.
- Impact of Instagram on Social Media:
- Instagram has reshaped the way individuals and businesses communicate through visual content.
- It has become a powerful tool for influencer marketing, with creators earning through brand endorsements.
- The platform's algorithms prioritize personalized content, increasing user engagement.
Last updated on Jul 4, 2025
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