Instagram is giving up to $20,000 to creators in the US, here's why
Instagram is reportedly testing a referral program aimed at incentivising creators to drive traffic and generate new sign-ups. According to a Business Insider report, the invite-only program is called the 'Referrals' and offers as much as $20,000 to US-based Instagram content creators.
Tired of too many ads? go ad free now
Notably, this is not the first time Meta has paid creators. Earlier this year, it offered bonuses ranging from $2,500 to $50,000 to encourage TikTok creators to share exclusive content on Instagram.
Instagram Referrals program details
As mentioned in the Business Insider report, the 'Referrals' program will run through six weeks from May to June. It is aimed to lure users on rival platforms – TikTok, YouTube, Substack, Discord and others to Instagram.
Instagram creators report seeing the message that reads: 'Share your Instagram profile, reels, posts, stories, and channels 'off Instagram'.'
There are two types of payments in the program. Some creators will earn $100 for each new eligible user who signs up through their referral link, while others will receive $100 for every 1,000 eligible visits to the app generated by their shared links.
According to the report, payouts are capped at $20,000.
Meta is working with a third-party provider, Glimmer, to handle the payments, the report states.
In a related news, Instagram chief Adam Mosseri recently testified in Meta's high-stakes antitrust trial, revealing tensions between Facebook's leadership and Instagram's founders that ultimately led to their departure in 2018.
During more than six hours of testimony, Mosseri disclosed that while on paternity leave, he warned CEO Mark Zuckerberg about deteriorating relations with Instagram cofounders Kevin Systrom and Mike Krieger.
Tired of too many ads? go ad free now
"It was hard for me to get a read on what's going on as the relationship was strained," Mosseri wrote in the 2018 email, acting as mediator between the increasingly frustrated founders and Facebook leadership.
The conflict centered on Zuckerberg's strategy decisions, which Instagram's founders believed were deliberately constraining their platform's growth to benefit Facebook's core business.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
33 minutes ago
- Indian Express
Staying the course on trade pacts with the UK and US
The uncertainty unleashed by Donald Trump's tariffs has only been aggravated by a spate of recent court rulings. On May 28, the US Court of International Trade struck down Trump's 'Liberation Day' tariffs, saying that the emergency law (International Emergency Economic Powers Act) does not give the President the power to impose broad tariffs. However, a day later, a federal appeals court temporarily reinstated the tariffs. The case is now likely to work its way through the US legal system. The uncertainty is likely to linger on as the 90-day pause on the Liberation Day tariffs ends in the second week of July. The Trump administration may have hoped that some trade deals would be quickly negotiated. And while the US and the UK have reached an agreement — the deal was announced on May 8th — progress with other major trading nations/blocks remains a protracted process. Take the case of China. A few days ago, US Treasury Secretary Scott Bessent is reported to have said that trade talks between the US and China 'are a bit stalled'. Last Friday, Trump said that China has 'totally violated' its agreement with the US, a charge that China has rejected. The US President is expected to speak to Chinese President Xi Jinping this week to iron out their differences. In the case of Japan, several rounds of talks have taken place, and another is expected before the G7 summit. But last Friday, the legal challenges to his tariffs notwithstanding, Trump also raised the tariffs on steel and aluminium to 50 per cent, potentially impacting countries such as Canada, Mexico and South Korea, which account for a sizeable share of US steel imports. A day later, the European Union, which had agreed to 'accelerate talks' on a US trade deal, has also responded firmly, saying it is prepared to impose 'countermeasures' against the US. It noted that such moves to increase tariffs 'undermine ongoing efforts to reach a negotiated solution'. The new tariffs are effective from June 4. These latest tariff moves come at a time when India and the US are negotiating a bilateral trade deal. A US team is expected to visit India over the coming few days. On Monday, US Commerce Secretary Howard Lutnick, speaking in Washington at the US-India Strategic Partnership Forum's leadership summit, said that a deal between the US and India could happen in the 'not too distant future'. The India-EU trade deal also appears to be on course. As per a report, the two sides have agreed on several chapters, and the pact could be concluded before the end of the year. Coming after the finalisation of the India-UK agreement, the successful culmination of these deals would increase the country's attractiveness as an investment destination.
Mint
38 minutes ago
- Mint
China's Top Diplomat Urges US to Put Relations on ‘Right Track'
Chinese Foreign Minister Wang Yi used his first meeting with new US Ambassador David Perdue to complain about recent actions by Washington, underscoring a downturn in relations between the world's two biggest economies. 'Unfortunately, the US has recently introduced a series of negative measures on unfounded grounds, undermining China's legitimate rights and interests,' Wang said during the sitdown in Beijing, according to a Chinese government statement. He called on the US to 'create the necessary conditions for China-US relations to return to the right track.' Perdue said in a post on X that he raised the Trump administration's 'priorities on trade, fentanyl and illegal immigration,' and that communications was 'vital' to the two sides' ties. Wang's comments come after China accused the US of violating a trade deal reached in Geneva, saying Washington had introduced new discriminatory restrictions, including guidelines on AI chip export controls, curbs on chip design software sales to the Asian nation and plans to revoke Chinese student visas. US Trade Representative Jamieson Greer last week accused Beijing of failing to comply with elements of that agreement, complaining that China had not sped up exports of critical minerals needed for cutting-edge electronics. President Donald Trump expressed confidence a talk with Chinese leader Xi Jinping could ease trade tensions, although it's unclear that such a call is being arranged. Perdue arrived in Beijing in mid-May with the expectation that he'll use his close relationship with Trump to reopen key communication channels in the difficult China-US relationship. This article was generated from an automated news agency feed without modifications to text.
Time of India
an hour ago
- Time of India
Startups leverage distribution chops to gain ground in general insurance
Live Events As insurance penetration in India remains a challenge, more startups are looking to leverage their distribution capabilities to grab a chunk of the general insurance startups including bike-taxi platform Rapido, wealth-tech firm IndMoney and vehicle services firm Park+ have already secured or are in the process of applying for a corporate agency licence , which allows companies to tie up with 27 insurance companies across life, general and health to distribute their is currently seeking an approval from the Insurance Regulatory and Development Authority (IRDAI) for a composite corporate agent licence, aiming to offer insurance products to both drivers and customers, according to two people in the know.'Rapido is planning to take a corporate agency registration from IRDAI (Insurance Regulatory and Development Authority) to be able to distribute insurance products to its drivers…it has already set up a new subsidiary for this purpose,' one of the people cited above Bengaluru-based company incorporated a new subsidiary last month and approved a resolution to undertake 'the insurance business as a corporate agent (composite) in respect of all classes of insurance, including motor insurance, general insurance, health insurance and life insurance,' according to a filing made with the Registrar of Companies (RoC). ET reported on March 12 that Rapido is expected to launch its food delivery service to compete with Zomato and Swiggy. Presently, the mobility firm fulfills almost 3-3.5 million ride hailing trips and parcel deliveries per plans in insurance reflect a similar strategy that was adopted by ride-hailing major Ola , a few years ago. The Bengaluru-based company had launched a full-stack insurance offering for its driver partners and its customers. Ola was also selling trip insurance to customers taking rides on its a similar move, vehicle-management platform Park+ is vying for a full-stack insurance distribution business. The company got the corporate agency licence in March and is looking to complete its integrations with around three to four insurance companies.'For us insurance is an ancillary business opportunity, something that is important for our customers. We are starting with vehicle insurance and the plan is to build an end-to-end process for our customers on the app from buying to service and claims support,' said Amit Lakhotia, founder, Park+.A senior industry insider told ET that for startups operating in the vehicle management or ride hailing space, car insurance is a big opportunity given the government mandate in this sector. However, he added, that buyers in this sector are extremely cost conscious which makes the viability of the business a challenge.'Since car insurance is a mandatory product many vehicle owner buys the cheapest product available, which means that innovating on new products becomes a challenge for tech startups,' he added. Industry estimates suggest more than 90% of the vehicle insurance business is still driven by offline agents and car sellers, that is the market these players intend to target. ET reported in November last year that fintech major Cred, which also has a corporate agent licence, is looking to monetise its vehicle management platform Cred Garage through insurance distribution. Cred Garage allows its users to manage their vehicles from tracking challans to getting services to renewal of which wants to get the entire country insured by 2047, is open to getting startups to distribute more of the insurance products so the market companies have also opened up for more such tech partnerships given these platforms have captive customers who can be acquired relatively mid-sized fintechs are lapping up this opportunity to turn into insurance distributors. While the likes of PhonePe, Amazon Pay and Paytm are large distributors already, players like credit distribution startup Freo and wealth management platform IndMoney have also gotten into this space. IndMoney has already partnered with 13 insurance companies to distribute all forms of insurance products to their to a detailed query by ET, Rapido said, "We would like to clarify that our current strategic focus remains on our core operations, and we have no plans to enter the insurance business.'
