Meta Platforms acquired Instagram in 2012, adding the rapidly growing photo-sharing service to the company behind Facebook.
Instagram was created by Kevin Systrom and Mike Krieger and launched in October 2010. The app initially focused on square photographs, filters, and simple social sharing, and it was first released for Apple's iPhone.
Facebook announced the acquisition in April 2012 for approximately $1 billion in cash and stock. Instagram continued operating as a separate app while gaining access to Facebook’s infrastructure and advertising capabilities.
Meta Platforms was called Facebook, Inc. when it bought Instagram. The parent company adopted the name Meta in 2021 to emphasize its interest in social technology, virtual and augmented reality, and the metaverse.