Mark Zuckerberg spent $1 billion to buy Instagram 12 years ago. The whole world was shocked because of the deal of such a huge amount for a small platform. But who knew that the value of this Instagram would reach 500 billion dollars today. An e-mail containing Mark Zuckerberg’s decision to buy Instagram has been leaked, in which the reason for purchasing this social media platform has been revealed.
App launched in 2010
Apart from Instagram, Mark Zuckerberg currently has social media platforms like Facebook, WhatsApp and Threads. Let us tell you that Instagram was launched in the year 2010. This app was brought as a photo sharing platform. At the same time, Zuckerberg’s social media platform was becoming very popular due to its content sharing. Seeing the popularity of the photo sharing platform, Mark Zuckerberg’s attention turned towards Instagram. Zuckerberg started seeing Instagram as a rival platform to Facebook.
According to CNBC report, in the year 2012, the value of Instagram was 1 billion dollars. According to the leaked e-mail, such a huge value of this social media platform was also due to Mark Zuckerberg. Apart from Instagram, Zuckerberg was also keeping an eye on WhatsApp and other social media platforms. Zuckerberg had written an e-mail to David Ebersmann, CFO of Facebook (now Meta) at that time, saying that Instagram had millions of users. Its growth is quite fast. At that time Instagram had a very small team and the revenue was also not much.
Bought Instagram for this reason
Zuckerberg had said in his e-mail that even though Instagram does not have revenue at this time, the company has built its business. In such a situation, if this company becomes big then it can create trouble for Facebook and them. This was the reason why Mark Zuckerberg bought Instagram for $1 billion. Apart from Instagram, Zuckerberg also bought WhatsApp, which challenges Messenger.