This is How You can Create a Billion Dollar Company like Instagram.
You see everyone wants to be a Millionaire or a Billionaire but they don’t really know what it takes to be that.
Not many people know that Burbn was created before Instagram. The reason why Burbn didn’t work out for Kevin Systrom and Mike Krieger the founders of Instagram was because it was a checking app. It was like an app that you use to take pictures.
Maybe when you go to a restaurant and you take a picture that checks that you were there. That was the main purpose of the app.
To cut the long story short Burbn was created to be the best checking app. Turns out, it didn’t do well in the market, despite they was half a million dollar Investment for the app.
So, Kevin and Mike both decided that Burbn wasn’t going to do anything, they still had 95% of the investment in their bank accounts and they started asking people questions. They got to know why people used the app and it was all because people wanted to take photos.
So they both took the message and started creating a new idea. Which was a photo-sharing app called Instagram.
Though they were many photo-sharing apps at that time but the thing that made Kevin and Mikes app stand out was that they were solving a problem.
“At that time they was no solution to posting amazing photos to a lot of friends at once.”
Later when Kevin went on a vacation with his now wife, he identified the problem that people won’t be able to post amazing photos because they weren’t filtered. This problem was identified when he was communicating with his wife. That was when Kevin decided to add the first filter on Instagram.
After he created the filter he took a photo of his dog and that became the first ever photo on Instagram.
When he came back from his vacation, he and Mike started working on Instagram. It was about 8 weeks of programming and testing, in all it was 8 weeks of work!
And as soon as it was ready and was released to the public….
It BLEW UP!!!
In less than 24 hours it had over 24,000 users and after a month it had one million people using the app. From top celebrities to the president (Obama) and so on.
To cut the long story short Kevin and Mike were approached by a well known entrepreneur who happens to be Mark Zuckerberg, the founder of Facebook.
They ended up selling Instagram to Mark for 1 billion dollars. The aim there was to sell Instagram to a company that will be a rocket ship and Facebook had such potentials.
The purpose of writing this article or story “according to medium” Is to state out the fact that, if Kevin and Mike would have persisted on Burbn and maybe invested all their money and time in pushing it out there to be the best. They wouldn’t have created a Billion dollar company like Instagram.
The reason why Instagram existed was because they recreated their idea and started something new that solves problems and stands out from the rest.
Now the question you’ve been seeking an answer to, since you started reading this article is “How can I create a Billion dollar company?”
Well, I’ve given you the answer already. If you’ve followed through this entire article, you’ll probably know that the perfect answer to the question is
“If you have an amazing idea and you’ve put it into action and it’s just not working out for you. Pivot! Recreate your idea and think of a way to solve people’s problems. Ask a lot questions and get people’s opinion. If you can give a solution, that might just be your Billion dollar company”
This article was inspired by James Jani, for putting out some of the information gathered.
Thanks for reading…
