Since it was released in late 2010, Instagram has become a household name. One of the few companies in the world to be bought within a few years of being formed, Instagram made news headlines when Facebook bought it for $1 billion in early 2012. In the news, Instagram posts are highly important because they can be quoted directly. In journalism, Instagram posts count as sound references because the accounts are often verified and have a post date. Instagram is in business and legal news because of the user data it generates. Instagram’s use of hashtags has made it an easy reference for collecting data about fans of sports, celebrities, and fashion.