Facebook acquired Instagram in 2012 and later became one of the world’s largest companies by market capitalization through its parent company, Meta Platforms.
Instagram was launched in October 2010 by Kevin Systrom and Mike Krieger as a photo- and video-sharing application. Facebook announced its agreement to acquire Instagram in April 2012, when the app had a much smaller user base than it has today. The transaction was completed later that year.
Instagram continued operating as a distinct product after the acquisition, while gaining access to Facebook’s infrastructure and resources. It later expanded from square photos into video, Stories, direct messaging, Reels, and shopping features.
The corporate name changed from Facebook, Inc. to Meta Platforms in 2021. Thus, Facebook is the historical acquirer, while Meta is the current parent-company name. Instagram itself is not a separately listed public company.