Since Instagram was introduced in October 2010, the mobile application for taking photo only served users of Apple iOS, including iPhone, iPad, and iPod. Just about one week before the acquisition by Facebook in early April 2012, Instagram reported to register about 30 million users and all of those were iOS users. At the same time, Instagram started to serve two platforms by adding an app that catered for Google Android operating system, for example Samsung Galaxy S II and S III. The strategy to launch a second platform for Android is working very well. Within the past three months, the user count has doubled. Instagram announced that the 2 years old company has surpassed 80 million registered users who share 4 billion photos that were uploaded from around the world.
Instagram was acquired by Facebook with a price tag of $1 billion in cash and stock. Due to the Q2-2012 (Apr-Jun) quarterly financial report for April to June 2012, the value of the company dropped significantly while it also impacted on the value of Instagram. The acquisition is now valued at less than $1 billion.
(Image: Instagram icon and logo)