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Kevin Systrom, a 20-something years old Stanford graduate, worked as an excellent marketer during the day and spent his evenings learning how to code.
The self-taught programmer was inspired to create Burbn after noticing Foursquare’s recent success. Users of the app could discuss their plans, check into destinations, and post images.
Kevin met his acquaintances from venture capital firms and started discussing Burbn. As he continued to work on Burbn, Systrom closed a $500,000 seed funding round with Baseline Ventures and Andreessen Horowitz on March 5, 2010.
He put up a team that included Mike Krieger, the co-founder of Instagram, who was extremely knowledgeable in coding. He and Krieger’s decision to concentrate the app purely on photographs is when the magic began to unfold.
They gave it a new name: Instagram, a combination of the words “instant camera” and “telegram”.
Instagram quickly attained widespread popularity. When it first appeared for iOS in October 2010, Instagram received a lot of popularity, gaining 1 million users in just two months, 10 million in a year, and 1 billion by June 2018.
Facebook Inc. acquired Instagram in April 2012 for around $1 billion in cash and stock.
“For years, we’ve focused on building the best experience for sharing photos with your friends and family,” Mr. Zuckerberg wrote. “Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests.”
By October 2015 over 40 billion photographs had been uploaded on Instagram.