Tech world got shocked when Snapchat spurned the $3Biliion acquisition offer from Facebook. According to this Forbes story, Mark Zuckerberg started negotiations in 2012. He revealed some of his plans about releasing a competing app, called Poke. He also warned Snapchat that it would change Snapchat’s success story. “It was basically like, ‘We’re going to crush you.’” remembers Evan Spiegel, CEO of Snapchat.
With so many companies using Instagram, and many users interacting with them, it was quite predictable that company would design tools to help businesses perform better on the platform. Instagram interviewed hundreds of businesses and found that most of them want to stand-out, get insights and find new customers when using the app. The company has listened and introduced new Instagram Business Profile and tools for businesses.