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Kevin Systrom Posts

Instagram Now Lets You Record 15 Second Videos As They Hit 150M Users

Instagram Video
Today Facebook announced that Instagram now has video recording features.  The video feature will let you record clips at up to 15 seconds and it includes creative filters that made Instagram photos famous.  Facebook acquired Instagram for $1 billion in April 2012.
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Instagram Launches Feed For The Web

Instagram is the popular mobile photo social network that was acquired by Facebook for $1 billion in April 2012.  The company currently has 90 million monthly active users.  Up until now, Instagram users could only access the news feed through the mobile application.  “As of today, you can now browse your Instagram feed on the web — just like you do on your mobile device,” stated Instagram co-founder Kevin Systrom in a blog post.

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Class Action Lawsuit Filed Against Instagram

Instagram has been hit with a class action lawsuit in a San Francisco federal court. When Instagram changed their terms of service earlier this month, the company said that they would have the right to use your photos for advertisements. Instagram CEO Kevin Systrom said that they had no intention to sell ads against the photos. He hinted that the company will likely monetize by placing relevant brand ads in the News Feed.

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Kevin Systrom Said Instagram Had $2.7M In Loss, $5M In The Bank, No Monetization Strategy

Instagram CEO Kevin Systrom was at a hearing in San Francisco where California regulators were deciding on whether Facebook’s acquisition of Instagram could be allowed.  Between the time Instagram started and the time they were acquired, the company ran up $2.7 million in losses.

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Instagram CEO Kevin Systrom Started The Facebook Negotiations By Asking For $2 Billion

When Facebook acquired Instagram for $1 billion, people were questioning whether the large social networking company got ripped off because Instagram was not making any money. However this deal turned out to be a bargain because Instagram CEO Kevin Systrom started off by asking for $2 billion. Facebook CEO Mark Zuckerberg conducted the negotiations at his $7 million home in Palo Alto. There were no bankers or lawyers there to help with the deal. Just two startup CEOs.
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Facebook Outbid Twitter For Instagram

When Facebook bought out Instagram, they had outbid Twitter for a deal. Twitter co-founder Jack Dorsey was also an investor in Instagram and he tried to purchase the company before Facebook. Dorsey had used Instagram on a daily basis to send photos to Twitter, but since the deal has been announced he stopped using it.
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Instagram CEO Kevin Systrom Earns $400 Million From Facebook Acquisition

Yesterday Facebook acquired Instagram for $1 billion, which is the largest acquisition in the history of Facebook. Instagram CEO Kevin Systrom owns 40% of Instagram according to sources with Wired.com, which means that he will take home $400 million from the acquisition. Instagram co-founder Mike Krieger has a 10% stake in the company so he will take home $100 million.
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