Gradually, in the month of March, 2010 the developers were provided with a monetary value of US$500,000 for developing the service. It was in this year that Josh Riedel joined the company, developing the first version of the program in January, 2011. He added hash tag providing the facility to discover and find each picture. It was in the same year that the company had also collected an amount of US$7 million valuing it at around US$25 million. It was in April, 2012 that the first version of Instagram was released. However, it was viewed that due to a lack of employees and funds to improve Instagram, the service was sold at US$1 billion to Facebook in cash and in stock (Geron, 2012; Hui, 2012). Reason for Growth/Decline The current features of Instagram can be considered to be the primary reason behind its rapid growth. Instagram is amongst those apps that provides seamless social integration to well-known social networking sites such as Facebook, Tweeter, Flickr and Tumbler. The simple interface can also be determined as another prime reason behind the success of the social service. Though there are numerous photo sharing apps available however Instagram is simple and it also provides digital edit options which make it separate from others. It is worth mentioning that though Instagram offers the facility of sharing photos or video taken in other social websites, users can also share their photos on it which makes it a social network platform on its own (Stratmann, 2011; Sengupta et al., 2012). Future The future of a social networking site directly relies on the way innovation is made in it. In this context, it has been viewed that Instagram has been a...
This essay stresses that Instagram is recognized to be amongst those social network based services that has flourished within a short period of time. Firstly, it is believed that the business model of the Instagram is comparatively simpler than any other form of social app available in the market. Instagram aims at providing a user-friendly experience to its users by adapting innovative ways or features. Secondly, Instagram can be used as a live coverage tool which provides an opportunity for any user to keep updated of the places where they are at. It is worth mentioning that Instagram also aims at improving it series of functionalities with the growing demand of its users and marketers. Marketers can use Instgarm to share the images or videos of their offered products or services to create significant consumer awareness which in turn can enable them to draw a diverse range of consumers.
This report makes a conlusion that the social media vehicle i.e. Instagram has been in continuous discussion amid different social networking gurus since its launch for public use. It has been viewed that Instagram has largely been able to attract a huge extent of user base because of its simplicity and uniqueness. With reference to the above stated discussion, it can be affirmed that though Instagram is considerably new in the social networking market however if it keeps on following its innovative ways of making new changes in the app, this social media vehicle would be able to maintain its eminent position.
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