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Instagram
Instagram was founded by Kevin Systrom and Mike Krieger in 2010, built specifically around mobile photo-sharing with built-in filters that let ordinary smartphone photos look more polished, at a moment when smartphone camera quality still lagged well behind dedicated cameras. Facebook's 2012 acquisition of Instagram for approximately $1 billion, when the company had fewer than 15 employees and no revenue, is now widely regarded as one of the most successful acquisitions in tech industry history given Instagram's subsequent growth into a platform worth vastly more. Instagram's introduction of Stories in 2016, directly modeled on a similar feature pioneered by Snapchat, demonstrated the company's willingness to rapidly adapt competitors' successful features, and Stories went on to become one of the platform's most heavily used features. Instagram's combination of its foundational mobile-photo-filter concept and its historically significant billion-dollar acquisition by Facebook has made it one of the most commercially and culturally influential social media platforms ever built.
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Facebook
Facebook was launched by Mark Zuckerberg and his Harvard roommates in 2004, initially restricted to Harvard students before gradually expanding to other universities and eventually opening to the general public in 2006, growing into the largest social network in the world. The platform's News Feed feature, introduced in 2006, fundamentally changed how social media worked by algorithmically surfacing content from a user's entire network in one continuous scroll, a format that became the default template essentially every subsequent major social platform adopted in some form. Facebook's 2021 corporate rebrand to Meta reflected the company's strategic pivot toward investing heavily in virtual and augmented reality technology, even as the original Facebook app and its billions of monthly users remained the company's core product and revenue driver. Facebook's combination of its pioneering algorithmic News Feed format and its unmatched scale as the first social network to reach billions of users has made it the most historically significant social media platform ever built.
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