The Story of Instagram!
A Silicon Valley fairy tale.
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A thread 🧵👇🏻
#startup #business #investing
A Silicon Valley fairy tale.
Hit “re-tweet” to help us reach more readers!
A thread 🧵👇🏻
#startup #business #investing
(1/16)
The Story of the Man behind Instagram-
In 2009, Kevin Systrom, a 27-year-old Stanford University graduate, was working at Nextstop, a travel recommendations startup.
He previously worked at Google (GOOG) & interned at Odeo, that would later evolve into Twitter
The Story of the Man behind Instagram-
In 2009, Kevin Systrom, a 27-year-old Stanford University graduate, was working at Nextstop, a travel recommendations startup.
He previously worked at Google (GOOG) & interned at Odeo, that would later evolve into Twitter
(2/16)
Systrom didn’t know how to code, so he used learn how to code on the nights after work. He eventually built a prototype of a web app called Burbn. This app allowed users to check in, post their plans, & share photos.
The photo-sharing feature of Burbn was very unique.
Systrom didn’t know how to code, so he used learn how to code on the nights after work. He eventually built a prototype of a web app called Burbn. This app allowed users to check in, post their plans, & share photos.
The photo-sharing feature of Burbn was very unique.
(3/16)
As it Happened!
An interesting development happened in March 2010 when Mr Systrom attended a party for Hunch, a startup based in Silicon Valley.
There, Systrom met two venture capitalists. After showing them the prototype of Burbn app, they decided to meet for coffee.
As it Happened!
An interesting development happened in March 2010 when Mr Systrom attended a party for Hunch, a startup based in Silicon Valley.
There, Systrom met two venture capitalists. After showing them the prototype of Burbn app, they decided to meet for coffee.
(4/16)
The turning point!
After their first meeting, Systrom decided to quit his job and focus on Burbn.
Within two weeks, he had raised $500,000 in seed funding from both Baseline Ventures and Andreessen Horowitz to further develop Burbn as his entrepreneurial venture.
The turning point!
After their first meeting, Systrom decided to quit his job and focus on Burbn.
Within two weeks, he had raised $500,000 in seed funding from both Baseline Ventures and Andreessen Horowitz to further develop Burbn as his entrepreneurial venture.
(5/16)
Meet Mr Mike Krieger -
After the funding, Mr Systrom started building a team for Burbn.
Mike Krieger became the 1st to join him in his venture!
Then, Mike was a 25 year old, Stanford graduate who previously worked as an UX designer at the social media platform Meebo.
Meet Mr Mike Krieger -
After the funding, Mr Systrom started building a team for Burbn.
Mike Krieger became the 1st to join him in his venture!
Then, Mike was a 25 year old, Stanford graduate who previously worked as an UX designer at the social media platform Meebo.
(6/16)
Brainstorming -
The two reassessed Burbn & decided to focus on one thing: photos taken on phones. They studied leading apps in the photography category & found Hipstamatic app which let users apply filters to photos. However, it lacked social media-sharing capabilities.
Brainstorming -
The two reassessed Burbn & decided to focus on one thing: photos taken on phones. They studied leading apps in the photography category & found Hipstamatic app which let users apply filters to photos. However, it lacked social media-sharing capabilities.
(7/16)
1 step backward & 1 step forward-
Kevin & Mike decided to build an app that let people share their photos.
They took a step back & reduced Burbn down to its photo, commenting, and liking features.
Later they renamed their app Instagram, (combining instant & telegram).
1 step backward & 1 step forward-
Kevin & Mike decided to build an app that let people share their photos.
They took a step back & reduced Burbn down to its photo, commenting, and liking features.
Later they renamed their app Instagram, (combining instant & telegram).
(8/16)
Blockbuster launch!
The Instagram app was launched on Oct 6, 2010.
It racked up 25,000 users in one day. 100,000 users in 1 week &
1 Million user in 2 months!
Credit also goes to the launch of iPhone 4, a few months earlier in June – featuring an improved camera.
Blockbuster launch!
The Instagram app was launched on Oct 6, 2010.
It racked up 25,000 users in one day. 100,000 users in 1 week &
1 Million user in 2 months!
Credit also goes to the launch of iPhone 4, a few months earlier in June – featuring an improved camera.
(9/16)
A possible acquisition by Twitter!
Systrom knew Jack Dorsey, the co-founder of Twitter, from his time as an intern at Odeo.
Dorsey got interested in buying Instagram and handed a formal offer for $525million.
Systrom declined the offer.
A possible acquisition by Twitter!
Systrom knew Jack Dorsey, the co-founder of Twitter, from his time as an intern at Odeo.
Dorsey got interested in buying Instagram and handed a formal offer for $525million.
Systrom declined the offer.
(10/16)
Instagram X Facebook :
Instagram had a user base of 27Mn by March,2012.
Systrom & Facebook founder Mark Zuckerberg met through events held at Stanford, and the two had been in touch since the beginning of Instagram's rapid rise in popularity.
Instagram X Facebook :
Instagram had a user base of 27Mn by March,2012.
Systrom & Facebook founder Mark Zuckerberg met through events held at Stanford, and the two had been in touch since the beginning of Instagram's rapid rise in popularity.
(11/16)
The Deal:
In April 2012, Facebook offered to purchase Instagram for about $1 billion in cash & stock.
One condition was that Instagram would be managed independently.
And just prior to its IPO, Facebook went on to acquire Instagram for
$1 billion in cash & stock.
The Deal:
In April 2012, Facebook offered to purchase Instagram for about $1 billion in cash & stock.
One condition was that Instagram would be managed independently.
And just prior to its IPO, Facebook went on to acquire Instagram for
$1 billion in cash & stock.
(12/16)
The controversial T&C of Instagram
Instagram updated its terms of service in dec 2012 which gave them the right to sell users photos to third parties without notification or compensation.
The move drew immediate criticism & Instagram eventually removed those terms.
The controversial T&C of Instagram
Instagram updated its terms of service in dec 2012 which gave them the right to sell users photos to third parties without notification or compensation.
The move drew immediate criticism & Instagram eventually removed those terms.
(13/16)
The core idea remains intact!
While user growth has continued to increase, Instagram has made a relatively small number of changes to the app, sticking to its simple user experience and core focus on photo and video sharing capabilities.
The core idea remains intact!
While user growth has continued to increase, Instagram has made a relatively small number of changes to the app, sticking to its simple user experience and core focus on photo and video sharing capabilities.
(14/16)
Some facts about Instagram:
1. India has the most Instagram users(201 Million).
2. 90% of Instagram users follow at least 1 brand.
3. Instagram Stories generate ~25% of it’s ad revenues.
4. Instagram’s advertising reach has outpaced Facebook this past year.
Some facts about Instagram:
1. India has the most Instagram users(201 Million).
2. 90% of Instagram users follow at least 1 brand.
3. Instagram Stories generate ~25% of it’s ad revenues.
4. Instagram’s advertising reach has outpaced Facebook this past year.
(15/16)
The story of Instagram’s explosive rise is a Silicon Valley dream, with the company gaining never seen before traction within just a few short months.
Be it celebrities or politicians, a student or a businessman. It is made for everyone!
The story of Instagram’s explosive rise is a Silicon Valley dream, with the company gaining never seen before traction within just a few short months.
Be it celebrities or politicians, a student or a businessman. It is made for everyone!
(16/16)
What’s your favour social media platform?
@shreyans512 @Rajeev_GoI @Arunstockguru @chandrarsrikant @businessbarista @caniravkaria @aparanjape @RomeenSheth @NayantaraRai @wilschroter @lalitinvestor @Sharad9Dubey @ShrutiMishra_ @InvestorAyush
Comment down below!
What’s your favour social media platform?
@shreyans512 @Rajeev_GoI @Arunstockguru @chandrarsrikant @businessbarista @caniravkaria @aparanjape @RomeenSheth @NayantaraRai @wilschroter @lalitinvestor @Sharad9Dubey @ShrutiMishra_ @InvestorAyush
Comment down below!
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