Facebook bought Instagram in 2012. On 9 April 2012, Facebook announced the agreement, but the acquisition had not yet been completed. The official welcome message followed on 6 September 2012. Want to give a precise purchase date? Specify whether you mean the announcement or the completion of the acquisition.
Below, you can read about the difference, the price Facebook announced and why Instagram now belongs to Meta.
When was Instagram’s acquisition completed?
The announcement and the completion are two different moments. First, the companies announce their agreement. Then they still have to complete the acquisition.
On 6 September 2012, Facebook published the official welcome message for Instagram. The date of such a message does not necessarily correspond exactly to the day on which the acquisition was legally completed. The message therefore does not confirm that exact day.
If someone asks you which year Facebook bought Instagram, 2012 that is the answer. If you use 9 April 2012, call it the announcement date, not the final purchase date.
How much did Facebook pay for Instagram?
In the official announcement of the acquisition the price was stated as approximately 1 billion dollars, in cash and Facebook shares.
Facebook therefore did not pay the entire amount in cash. A share is a small piece of ownership in a company. Anyone who receives shares as payment thereby becomes a part owner of that company.
Shares can become more or less valuable. As a result, the value at completion may differ from the amount mentioned at the announcement. The billion dollars is therefore the announced price, not an exact final amount paid entirely in cash.
Why was Instagram interesting to Facebook?
Instagram was about sharing photos from your phone. That fitted with Facebook, where people keep in touch and share posts. With a photo, you can quickly show others what you are doing.
This helps explain why Instagram was a logical addition to Facebook. It explains how the services fit together, but not which reason within Facebook was decisive in buying Instagram.
Does Instagram now belong to Facebook or Meta?
Instagram now belongs to Meta. That is the name of the parent company that was previously called Facebook. A parent company is a company that owns other companies.
The social network is still called Facebook. As a result, “Instagram belongs to Facebook” can be confusing. It matters whether you mean the company or the app:
- At the time of the purchase: the company that acquired Instagram was called Facebook.
- Now: the parent company is called Meta.
- In everyday use: Instagram and Facebook are separate apps, even though they belong to the same company.
More about the history of Facebook and Instagram
Instagram already existed before Facebook bought it. The purchase date is therefore not the founding date. Want to know when the app began? Read when Instagram was founded.
Also curious about Facebook’s beginnings? Read more about when Facebook was founded. If you also publish your own content, our Instagram services includes packages for followers and likes. The product pages show the available quantities and prices.
