Early Life of Kevin Systrom
At the time of his birth, Kevin Systrom was the son of Diane and Douglas Systrom, both marketing executives at Zipcar and TJX Companies, respectively, and he attended Holliston High School in Holliston, Massachusetts.
In Concord, Massachusetts, while attending Middlesex School, he became fascinated with computer programming. Pranking his pals by pretending to hijack their AOL Instant Messenger accounts was one of his favorite pastimes as a kid. He played “Doom 2” and made his levels as a kid. Systrom worked at Boston Beat, a vinyl record store, while in high school.
He received a bachelor's degree in engineering, and a master's in business administration from Stanford University in 2006. He was a member of the Sigma Nu fraternity at Stanford University. Outside of work, he spent his free time creating web applications. His fraternity members could share photos through a photo site he created for them. This piqued his interest in photography, and he decided to pursue it further.
During his junior year of college, one of Systrom's professors in Italy introduced him to the camera known as the Holga, which is known for its retro look and low cost. Systrom became enamoured with Holga's unique style of photography. The Mayfield Fellows Program at Stanford introduced Systrom to the startup sector when he was selected as one of the program's twelve students. His internship at Odeo began due to this fellowship (the company that eventually gave rise to the behemoth that is now Twitter.)
The career of Kevin Systrom
As a career, Systrom joined Google as an associate product marketing manager, where he worked on products like Gmail, Google Calendar, and Docs. When he was a product marketer at Google for two years, he was frustrated that he wasn't promoted to Associate Product Manager.
Foursquare and other location-based apps piqued Systrom's interest. Nextstop, a location recommendation firm formed by ex-Google employees, gave Systrom the concept of merging location check-ins with popular social games after he left Google to join them. To get the attention of Baseline Ventures and Andreessen Horowitz, Systrom created a working prototype of the concept.
In 2010, he was a co-founder of Burbn, a smartphone check-in game. On a trip to Mexico, Systrom came up with the idea when his partner was unhappy with all of her images taken with the iPhone 4 camera since they didn't appear good enough. Filters were used to enhance the photos.
He realized right once that the retro camera filter was a big hit with Burbn users. To see if Burbn could be a successful business, he quit his day job. Systrom earned $50,000 in seed funding from Baseline Ventures and Andreessen Horowitz just two weeks after leaving his position in the software industry.
There were many things users could do on Burbn in San Francisco, such as check in to places, schedule future check-ins, collect points for hanging out with friends, and share images. They found that Burbn had too many capabilities that users didn't want to utilize. As a result, the firm refocused its entire mission and renamed itself Instagram.
Instagram is a widely used photo-sharing program for smartphones, allowing users to post photographs to various social media sites like Facebook and Twitter. Digital filtering will enable users to give their images a unique appearance. The primary purpose of this filter is to provide images with a “vintage” feel, paying homage to cameras like the Kodak Instamatic and the Polaroid instant cameras from decades past.
On April 9th, 2012, Facebook CEO Mark Zuckerberg revealed that the business had agreed to acquire Instagram for $1 billion in cash and equity. Kevin Systrom, the company's 27-year-old founder and CEO, held 40% of the company's stock at the time, giving him a paper net worth of $400 million. Just 13 people were working for the business.
Systrom's Facebook stock value more than doubled in just two years, making him worth $800 million. This purchase was made a few years later, and Systrom's net worth now stands at over $2 billion. Instagram has been rumoured to be valued at up to $100 billion today. With the popularity and magnitude of Instagram now, you have to wonder what Kevin would be worth today if he hadn't sold.
Instagram's Explore tab, filters, and videos were all developed during Systrom's tenure as CEO. In 2012, Instagram introduced web profiles and the ability to connect accounts to Facebook, Twitter, Tumblr, and Flickr. Short videos can now be uploaded and filtered by the service. Instagram had 40 billion images shared by the end of October 2015.
Daily users on Instagram have grown to almost 500 million in just one year. In 2017, Instagram had about 450 employees and 600 million monthly, and 300 million daily users. This year, Systrom began utilizing Instagram Stories, a revolutionary new feature.
Five hundred million people will use Instagram every day by the year 2020. Systrom abruptly left Instagram on September 24, 2019, and was no longer there after just a few weeks.
On October 31, 2016, in Napa, California, Systrom married Nicole Schuetz, founder, and CEO of clean energy investment firm Sutro Energy Group. In 2014, they got engaged after meeting at Stanford, where they were both students. Freya Systrom was born in June of this year.
With a net worth of $1.1 billion, Instagram's Kevin Systrom had the last laugh.
In terms of Value, How Much Is Instagram? Statistical Information
- 100 times more valuable than what Facebook spent on Instagram.
- According to current estimates, Instagram, which Facebook paid $1 billion for in 2012, is expected to be worth over $100 billion by 2022.
- Instagram generates a whopping 50 per cent of Facebook's money from advertising.
- Instagram has a monthly active user base of 1.2 billion people.
- Instagram users between the ages of 25 and 34 make up 32 per cent of the site's users.
- 78% of marketers believe that Instagram postings have a more significant impact on marketing than any social media channel.
- More than half of Instagram's users are women means that the platform's marketing efforts can benefit.
- Advertising on Instagram brought in $17.4 billion in the United States in 2017.
- Influencer marketing on Instagram is used by 89% of marketers.
- The vast majority of Instagram users are interested in discovering new products, businesses, and services through the platform's feeds.
- Instagram posts had 17 times more interaction than equivalent Facebook posts.
In 2022, How Much Money Will Instagram Still Be Making if It's Still Around?
A $100 billion valuation is predicted for Instagram by 2022. Take a closer look at what makes Instagram so valuable and find out what those elements are.
One. Instagram Is Worth a Lot More than Facebook Paid for It.
After only two years on the market, Facebook bought Instagram. In 2012, Facebook paid $1 billion for the photo-sharing site, which was deemed a high price.
What About the Profit Facebook Gained From Instagram, Though?
Instagram would have been worth $100 billion if it were a separate company, according to a Bloomberg study in 2018.
Instagram Accounts for More Than Half of Facebook's Ad Revenue.
According to the latest recent figures, Instagram generates 52.6% of Facebook's ad revenue.
The most popular forms of advertising on Facebook and Twitter include eCommerce and retail ads, video ads, etc.
The growth rate of Instagram, according to Emarketer, is predicted to be 52% in 2021 and can reach 60% in 2023.
Instagram Has 1.2 Billion Monthly Active Users
According to figures, Instagram generated $8.3 billion in revenue in the third quarter of 2021. By the end of 2020, Instagram was bringing in $24 billion, up from $17,7 billion in revenue in 2019. Instagram users between the ages of 25 and 34 make up 32 per cent of the service's user base.
The average age of Instagram's users is a crucial factor in the app's growth. According to the site's demographics, the majority of Instagram users are between the ages of 25 and 34. People between 18 and 24, who make up 31% of subscribers, are the most avid followers. According to these figures, more than two-thirds of all Instagram users are under the age of 34, which attracts marketers.
Businesses in the e-commerce and online sales and marketing industries, in particular, see Instagram as a chance to connect with millions of their target demographic: millennials. Influencer marketing, giveaways, shoutouts, etc., are just a few of the unusual marketing tactics they are doing to maximize sales.
seventy-eight per cent of marketers believe Instagram posts have a more significant impact on marketing than any other medium
Most marketers believe that Instagram posts have a more significant impact on marketing than other social media platforms.
Due to the simplicity of uploading daily stories, unique filters, making creative movies and posters, and engaging customers directly without third-party intrusion for regular feedback.
Instagram Has More Than Half a Million Female Users, Which Can Help With Marketing Efforts
- According to the app's usage statistics, women outnumber men as Instagram's primary users.
- Female Instagram users receive five or more likes on average than their male counterparts.
- The average number of likes received by female Instagram users was 578, whereas the average number of likes received by male Instagram users was 117. Similarly, posts by women welcome more comments, shares, and reposts than ones by men.
- In light of these figures, it is clear that Instagram is an excellent place for marketers to target their efforts.
- In the United States, Instagram made $17.4 billion through advertising.
- In the past, television, magazines, and newspapers were the primary means of advertising to the general public.
- Popular social media have replaced these archaic platforms in the digital era.
- Facebook and Instagram are the most prominent of the rest. Recent data shows that Instagram's annual ad income is on the rise.
- According to the company's financial reports, Instagram's ad income in the United States was $17.4 billion in 2020.
- As of 2023, Statista projects that Instagram's ad income will total $40 billion in the United States alone.
- In a graphical representation, Instagram Advertising Revenues in the United States 2018 – 2023.
Instagram's Influencer Marketing Is Used by 89% of Marketers
- In the year 2021, Instagram is expected to be the most popular social media marketing platform, followed by YouTube and Facebook, according to analysts.
- When it comes to marketing campaigns, Snapchat is one of the least preferred platforms.
- Despite Snapchat's introduction of the stories function, Instagram quickly adopted the feature.
- Instagram now has nearly twice as many daily Snapchat Stories as before.
- Most Instagram Followers (81%) Use the Platform to Learn More About Various Brands and Products.
- More than 70% of American businesses have invested in Instagram marketing, according to the data.
- Influencers are used by 91 percent of luxury firms to promote their products.
- With 84%, Sports Clothing comes in second place, followed by Beauty Brands with 83%.
Instagram's Engagement Rates Are 17 Times Higher Than Those of Facebook Posts.
- On Instagram, there are currently more than 200 million company profiles, according to a 2021 study.
- Sixty per cent of Instagram firms use the same filter for every post they make on the platform, which is surprising.
- More than 200 million people visit businesses on Instagram every day, and 80 percent of Instagram users follow brands or companies.