Instagram generated $20 billion in ad revenue in 2019, according to a new Bloomberg report.Facebook bought Instagram for $1 billion in 2012, and it has since grown into a cash-printing powerhouse.Visit Business Insider's homepage for more storiesInstagram is an increasingly core part of Facebook's business — and new report quantifies that for the first time., more than a quarter of its parent company's total revenue for the year.
The figure underscores the extraordinary success of the photo-sharing app since Facebook acquired it in 2012, growing from a revenue-less app to a cash-generating powerhouse that plays a key role in Facebook's "family of apps" strategy and the future of the business. — almost all of that from advertising. It's not clear how Instagram's profit margins compare to that of the core Facebook app.
Facebook paid $1 billion in cash and stock to acquire Instagram in 2012, but is now estimated to be worth many, many times that. In 2018,, and it is certain to be worth more than that in 2020. The app was founded by Kevin Systrom and Mike Krieger, and they left in 2018 as Facebook worked to integrated the platform more closely with its other products. Adam Mosseri, a confidante of CEO Mark Zuckerberg, was appointed its new head, and its upper ranks now include multiple veteran Facebook executives. Contact this reporter via encrypted messaging app Signal at 650-636-6268 using a non-work device, email at rprice@businessinsider.
i only get ads of things i already have hahahahaha
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