Instagram was only 18 months old when Facebook bought it for $1 Billion and the media roundly ridiculed Zuck for spending so much money on something which has not proven itself with “just” 30 million users on the Instagram platform. Today, there are over 1,000,000,000 users, representing 65% compound annual growth from April 2012 to today.
So what, you say? A billion users are not all active users, and that’s the meaningful number. Fair point, and there are two widely used measures - MAU and DAU - Monthly and Daily Active Users. Instagram Stories DAUs number 500,000,000 alone and its engagement rate is enormous.
Yet we still find businesses who are not on Instagram. Do they think a BILLION people are wrong? Or do they need to buy a surf board and join the wave as it continues to build momentum?