On October 5th, 2010, Instagram launched
We’re really excited to launch our first version of Instagram today, free in the App Store. Instagram makes mobile photos fast, simple, & beautiful.
When we sat down three months ago to start designing our product, we looked at digital photos and realized very few exciting things had happened in the last 5 years. We’re setting out to change that, and this release is our first step along the way.
Just 19 months later, on April 9th, 2012 (yesterday), a new piece of news came along
When Mike and I started Instagram nearly two years ago, we set out to change and improve the way the world communicates and shares. We’ve had an amazing time watching Instagram grow into a vibrant community of people from all around the globe. Today, we couldn’t be happier to announce that Instagram has agreed to be acquired by Facebook.
As an early adopter, I was along for the ride almost since the very beginning – my first instagram photo going online on November 5th, 2010. Yes, I’m an Instagram fanboy! And I feel included in the success because I’ve been rooting for them so long.
But let’s just put that billion dollar acquisition into perspective:
- 45 million dollars for every month worked on Instagram
- 76 million dollars per employee (just 13 of them according to Wikipedia)
- about 30 dollars for every user
- about a dollar for every photo
And that is what startups are about. Creating value. Ridiculous amounts of value.
For even more perspective – if your average university education was providing as much value as Instagram does for both its founders and its users … someone would have to dump 3.2 billion dollars in your lap as a graduation gift.
Some of you might be wondering what’s so special about Instagram anyway, how can they command such a high valuation, what to users see in them?
To that, all I can say is … remember what sharing a photo was like before Instagram? All that uploading to a twitpic service, then posting to twitter and to facebook and whatever … it was a pain in the arse.
More importantly, filters are just about the only way you can make a mobile photo look any better than a bland piece of crap with poor lighting. And as a faithful Instagram fan, I’m sticking by this interpretation.
- Facebook will buy Instagram for $1Billion Dollars [Breaking News] (androidauthority.com)
- Facebook Acquires Instagram for $1 Billion (progressivemediaconcepts.com)
- Facebook Buys Instagram For $1 Billion (macrumors.com)
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