Welcome to episode 47 of the LRS podcast, where I’ll talk about an interesting billion-dollar deal in the startup world.
I now know what my favorite social media platform is, and why. That’s Instagram. It’s where 20% of all Internet users are, it’s one of the most visually appealing places you can be online, it’s a platform where you can monetize your business and build your brand in a short time, and where users are more engaged than on any other channel.
You’ll see me write more about it on the Let’s Reach Success blog, and also see me grow my Instagram account slowly but steadily by providing inspiring content consistently.
I’ll be researching how some of the biggest influencers there built their following, and share the strategies and tools others use to generate an income by being part of the app 500 million people use actively every single month.
If you’re self-employed trying to get more clients, connect with like-minded people and just built a name for yourself in your niche, you need to have an account there and invest enough focus and time in it.
If you’re a company and want to scale your business, you also need to be there to gain an audience and send the traffic to your main product or service.
What you might want to know, though, is that Instagram is actually owned by Facebook.
Yes, Zuckerberg bought it back in 2012 from Kevin Systrom for the shocking amount of $1 billion, while the social media platform was still in its early days, and although promising, wasn’t making any real money.
Well, that’s considered one of the best deals in the tech world, and today I’ll find out why.
- What makes Instagram such a great product [2:03]
- Why Zuck’s acquisition of Instagram is considered a success and what are the benefits for Kevin Systrom [3:27]
- 6 reasons why Zuck paid a billion dollars for the social platform in its early days [5:05]
- Kevin Systrom
- Mark Zuckerberg
- Instagram Growth Stats [Business Insider]
- Instagram reaches 500 million users [Mashable update]
- The app gets 1 million new users daily on the Google Play store [The Next Web]
- Mike Krieger
- Zuck’s 10- year vision
- 1 of every 5 minutes is spent on Instagram or Facebook
- E-Commerce Times Interview
Thanks for listening.
Glad you joined me on the podcast today. If you want to hear a particular topic on it, leave a comment below and I’ll make sure I cover it in the future.
Also, if you enjoyed it, please share it using the social media buttons you see on the left.
And finally, please leave an honest review for The LRS Podcast on iTunes. You’ll help a lot with the rankings for the show and I’ll appreciate it.
What do you think about Mark Zuckerberg’s decision? How do you like Instagram and the path it’s taken since 2012?