Instagram was founded in 2010 and acquired by Facebook for $1 billion in 2012. It is a photo and video sharing social media platform with over 100 million users that upload over 1 billion photos. Users can upload photos and videos, add hashtags to make content searchable, follow other users, and enhance photos using built-in filters. The platform is free to use and easy to understand, allowing users to connect with celebrities, promote businesses, and share customized photography.