30/07/2023
Instagram began development in San Francisco as Burbn, a mobile check-in app created by Kevin Systrom and Mike Krieger. On March 5, 2010, Systrom closed a $500,000 (equivalent to $615,400 in 2021) seed funding round with Baseline Ventures and Andreessen Horowitz while working on Burbn. Realizing that it was too similar to Foursquare, they refocused their app on photo-sharing, which had become a popular feature among its users. They renamed it Instagram, a portmanteau of "instant camera" and "telegram".
2010–2011: Beginnings and major funding
Josh Riedel joined the company in October as Community Manager,Shayne Sweeney joined in November as an engineer, and Jessica Zollman joined as a Community Evangelist in August 2011.
The first Instagram post was a photo of South Beach Harbor at Pier 38, posted by Mike Krieger at 5:26 p.m. on July 16, 2010.Systrom shared his first post, a picture of a dog and his girlfriend's foot, a few hours later at 9:24 p.m. It has been wrongly attributed as the first Instagram photo due to the earlier letter of the alphabet in its URL.[better source needed] On October 6, 2010, the Instagram iOS app was officially released through the App Store. In February 2011, it was reported that Instagram had raised $7 million (equivalent to $8,441,218 in 2021) in Series A funding from a variety of investors, including Benchmark Capital, Jack Dorsey, Chris Sacca (through Capital fund), and Adam D'Angelo.The deal valued Instagram at around $20 million. In April 2012, Instagram raised $50 million (equivalent to $59,190,000 in 2021) from venture capitalists with a valuation of $500 million (equivalent to $591,900,000 in 2021).Joshua Kushner was the second largest investor in Instagram's Series B fundraising round, leading his investment firm, Thrive Capital, to double its money after the sale to Facebook.
2012–2014: Additional platforms and acquisition by Facebook
On April 3, 2012, Instagram released a version of its app for Android phones,and it was down
