On April 9, 2012, Kevin Systrom and Mike Krieger sold their 13-person startup, Instagram, to Facebook for $1 billion. At the time this figure seemed insanely high. Especially to casual Insta-snappers like myself… “My #JonaHay food shots are worth what!?”
But according to the latest figures, it looks like Zuckerberg’s having the last laugh.
This week Instagram announced that it now has more than 300 million monthly active users, up from 200 million in March. Such crazy growth now means that Instagram is more popular than Twitter, which has a mere 284 million active users. But before you get too caught up dissing Twitter, it does also claim to have 500m ‘less frequent’ users on its books.
In addition to the user numbers, Instagram also announced that it will be introducing “verified badges” for celebrities and brands. Cheers for that genius idea, Twitter. Instagram say that these new badges will be rolled out over the coming days. However, the new feature will be limited to high-profile public figures Instagram believes could be impersonated, and there will be no way to apply for a badge.
So what does all of this mean for marketers?
Well, if you’re a brand lucky enough to be ‘invited’ to try Instagram advertising, I guess it is business as usual. That said, Instagram ads don’t seem to be going down too well for some brands…
For the rest of us, the latest figures should be a bit of a wakeup call to the full potential of this massive, engaged and thriving social platform. It’s high time for more Aussie brands to start falling in love with Instagram.
#Nofilter and all.
What do you make of this news? Is Instagram really a more powerful player than Twitter? Or have they just got the ‘young vote’?
Jona Peck is a Digital and Content Specialist at BCM