Facebook acquired Instagram for about $1 billion in 2012.
Instagram was founded by Kevin Systrom and Mike Krieger and launched in October 2010 as a mobile photo-sharing service. Its early identity centered on square photographs, filters, and a simple feed designed for smartphones.
Facebook announced the acquisition on April 9, 2012. The deal was valued at approximately $1 billion in cash and stock and was completed later that year. Instagram continued operating as a separate app, with Systrom remaining involved in its leadership for several years.
The acquisition is sometimes confused with Facebook’s later purchase of WhatsApp, which was announced in 2014 for a much larger price. Instagram subsequently added videos, Stories, direct messaging, and Reels while remaining one of Meta’s best-known consumer platforms.