Facebook Inc. bought the picture-sharing social media platform for $715m USD in 2012, a time when it did not have a standalone strategy of bringing in money from advertisements. Since Facebook’s acquisition, Instagram has gone on to make money in the same way Facebook does, by selling advertisement space in users’ feeds and in their disappearing “Stories.”
The figures come from an undisclosed source that is familiar with the company who asked to remain anonymous because the information is not public. However, if speculation is true, Instagram’s $20 billion USD total exceeds Google‘s YouTube platform, which brought in a total of $15.1 billion USD in the same period.
Facebook Inc. does not specifically disclose Instagram’s income, instead highlighting its roster of companies as a “family of apps” in its yearly earnings report. Facebook declined to comment on the news.
Elsewhere, Canada is said to be cracking down on influencer marketing.