Influencers have become a key demographic for Instagram, and the app has opened up its platform with shopping and other marketing tools to make these popular users more successful. Instagram has played a central role in this century’s popular culture, with popular users dubbed ‘influencers’.
Stories alone boasted twice as many daily active users as its rival counts in total in 2018, with 500 million active users to the 239 million of Snapchat. The latter may have been pilfered from Snapchat, but in terms of sheer user numbers it soon left its rival in the dust. Instagram Stories launched in 2016, which allows users to upload a short series of photos, which are deleted after 24 hours. Video sharing was added to the photo-sharing app in 2013, which mimicked the popular app Vine at the time. By June 2018, the platform had hit 1 billion monthly active users.
Instagram was a hit, rapidly gathering users to become one of the world’s biggest and most-influential social media platforms. Systrom remained on as CEO until 2018, when Krieger (head of engineering) also left the company. Within just shy of two years of operation, it was sold to Facebook for $1 billion. It quickly became apparent that the best course would be to pare down Burbn, which had already attracted $500,000 in seed funding, to focus on this element.
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