Instagram started as a simple photo sharing site. Once Facebook got involved, purchasing the 2-year old company for $715 million (first reported as 1 Billion), their intention was always to turn a profit. With the creation of Instagram Partner Program, Facebook/Instagram steps into their next evolution. Instagram started as an iPhone app on October 6, 2010. Ads, more of a type of sponsored posts, went live on Instagram on a few weeks ago, going global on September 30, 2015. The advertising update allowed for delivery of ads across both Facebook and Instagram (more info on that).
Instagram Partners is similar to Google’s Adwords support where business partners have been given the authority to act as agents for Google. Instagram Partner Program is starting off with 40 partners that are specializing in three categories for businesses: ad tech which focuses on planning, buying, and optimizing ads. Community management, specializing in engagement and interaction with communities. Content marketing, which supports curation of content and sharing on the social platform.
Make sure to read up on the ad platform and partners on the Instagram Tumblr page, Instagram for Business.