History in the Making

In my past few blogs I have mentioned several basic attributes of Instagram and provided information on the latest news and updates. Now I’d like to give a brief walk-through on how Instagram has really established itself and evolved overtime. Instagram was created by Kevin Systrom and Mike Krieger, and launched in October 2010. On January 2011, Instagram introduces hashtags to help users discover each other and make it easier to search for photographs. On February 2011, Instagram made an announcement of raising $7 million from a variety of investors which helped fund some of their operations. On April 2012, Instagram had been downloaded more than one million times as it releases software to make android compatible. The following week Instagram raises $50 million from venture capitalists which made them valued at $500 million and ranked fifth app ever to reach one million ratings on Google Play. On April 2012, Facebook acquires Instagram for approximately $1 billion which resulted in Systrom receiving $400 million based on his ownership stake in the business. On December 2013, Instagram added Direct, a feature that allowed users to send photos to specific people from the app which helped Instagram compete against messaging services. On August 2014, an announcement was made in regards to a new position for Instagram, the Company’s Global Head of Business and Brand Development, which was filled by Facebook’s former Regional Officer James Quaries. James Quaries now manages Instagrams revenue strategy in which he will help develop new monetizing products.

Reference: http://en.wikipedia.org/wiki/Instagram