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Instagram just hired its ninth employee and now has over 27 million users. That’s approximately 3 million users per employee. It is worth pointing out that Instagram hasn’t even released its app on Android yet.
As we discuss in a recent note, we believe Instagram is a model for future startups because:
- It is extremely capital efficient—cloud hosting and open-source software have slashed the costs of starting a company.
- It harnesses new distribution channels (social and mobile).
- It’s not monetizing, which is fine—with plummeting operating costs for startups, they should focus on building a great product and building an audience first.
Photo: news reports and company releases
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