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Instagram is a free photo sharing application that allows users to take photos, apply a filter, and share it on the service or a variety of other social networking services, including Facebook, Twitter, Foursquare, Tumblr, Flickr, and Posterous. The application is compatible with any iPhone, iPad or iPod Touch running iOS 3.1.2 or above or any Android device running Android 2.2 or above. In an homage to both the Kodak Instamatic and Polaroid cameras, Instagram confines photos into a square shape. This is in contrast to the 3:2 aspect ratio normally used by the iOS device cameras. The application was developed by Kevin Systrom and Mike Krieger. In April 2012, Instagram was acquired by Facebook.
Source: http://crunchbase.com/company/instagram
Link for More Info
http://instagram.com/about/us/
Privacy Policy
http://instagram.com/about/legal/privacy/