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Meta Platforms, Inc., doing business as Meta, and formerly named Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California. The company owns and operates Facebook, Instagram, Threads, and WhatsApp, among other products and services.
Instagram is released for the Android operating system with support starting at version 2.2 "Froyo", and it is downloaded more than one million times in less than one day. 2012: April 5: Funding: Instagram raises US$50 million from venture capitalists for a share of the company; the process values Instagram at US$500 million. 2012: April 9
In May 2016, Instagram launched new tools for business accounts, including business profiles, analytics and the ability to promote posts as ads. To access the tools, businesses had to link a corresponding Facebook page.
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On April 12, 2012, Facebook acquired photo sharing service Instagram for approximately $1 billion in cash and stock. [96] [97] On March 8, 2013, Facebook announced that they acquired the team from Storylane, but not the product itself. [98]