INSTAGRAM has become the second fastest growing brand, trailing only chipmaker Nvidia.
According to Stocklytics.com, Instagram boasts an impressive growth rate of 173 per cent. Its growth rate is 93 per cent, while Facebook ranks third at 79 per cent, highlighting the two meta platforms' trajectory gains and market resilience.
In 2022, Instagram's value stood at US$33.48 billion. A year later, the value stood at US$47.4 billion, making it was the sixth most valuable media brand worldwide in 2023.
Stocklytics said this remarkable growth trajectory has propelled the platform to new heights, solidifying its standing in the market and showcasing the significant potential of social media platforms.
"Instagram has introduced several innovative features that have resonated deeply with its diverse user base. The integration of augmented reality (AR) filters, enhanced video capabilities, and the expansion of shopping features have transformed Instagram into more than just a social networking site. It has become a multifaceted platform where users can connect, create content, shop, and explore new trends seamlessly," said Stocklytics financial analyst, Edith Reads.