Jon Stewart's 'Really Lame' Dig About Facebook Purchase Of Instagram Resurfaces, Yet Meta Has The Last Laugh
Portfolio Pulse from Chris Katje
Twelve years ago, Facebook (now Meta Platforms Inc, NASDAQ:META) acquired Instagram for $1 billion, a move criticized by many including Jon Stewart for its high cost and Instagram's uncertain future. Despite initial skepticism, Instagram has grown into a key component of Meta's portfolio, contributing to its valuation of over $1 trillion. The acquisition, once mocked for its perceived overvaluation, is now considered one of the best technology-related acquisitions of all time.
April 09, 2024 | 6:33 pm
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Meta Platforms Inc's acquisition of Instagram for $1 billion, initially criticized, has significantly contributed to its growth, with Instagram now being a key component of Meta's portfolio and helping the company reach a valuation of over $1 trillion.
The acquisition of Instagram by Meta (formerly Facebook) has proven to be a pivotal move for the company, transforming initial skepticism into a significant success story. Instagram's growth into a platform with billions of monthly active users and its contribution to Meta's advertising and partnership revenues have been instrumental in Meta's valuation surge. This demonstrates the acquisition's long-term positive impact on Meta's financial health and market position.
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