instagram app

Who Owns Instagram?

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Instagram is a free user-base photo and video sharing mobile app that has become one of the most popular social media networks in the world. Instagram was developed by Kevin Systrom and Mike Krieger who were Stanford University graduates. As of 2012, Instagram has become owned by Facebook, Inc. which was acquired by CEO Mark Zuckerberg and then CFO David Ebersman for a purchase price of $1 billion in cash and market stocks.

Mergers and acquisitions are inevitable in the business world, especially in the tech industry. Whenever new and unique ideas emerge in the market that becomes drastically popular to the masses, conglomerates are expected to flock over for buy-out negotiations. For aspiring app developers, being able to catch the attention of social media giants like Facebook Inc (now, Meta Platforms) should be a major validation and more than proof of being successful in the industry.