# What Does 1K or 1M Means? Talking About Its Meaning in Money, Prices

You might have come across numbers like 1k, 2k, 10k, 100k and so on. Wondering 1K means how much in money? Or what’s the meaning of 1M talking about value and pricing? What does 1k and 1m mean in numbers? What does 1k and 1m signify when talking about social media? Let’s get answers to these queries one by one.

Do you also count zeroes like an 8th grader when it comes to deterring an amount written like Rs.1950000? Well, we’ve all been there. The concept of putting K or M in front of values must be a lazy man’s way around numbers! Just kidding! But it is around us now, wherever you look the zeroes are replaced by ‘K’ or ‘M’, be it Facebook likes, Twitter Retweets or Instagram followers.

## What does ‘1K’ or ‘1M’ mean?

In the digital world, 1K is used to refer to 1 thousand, and 1M is used to refer to 10 lakh. So, when it says 18.5k it means 18,500. The letters act as a suffix to the numerals as a substitute for zeroes. Note that this does not apply with money as Million is according to US dollars and the currency conversion rates apply.

### 1M = 1 Million or 10,00,000 or Ten lakhs

Ok, but now let’s dig deeper.

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### What’s the Logic Behind Using “K” and “M”?

The logic behind ‘M’ being used for ‘million’ is obvious. The initial of million is used to denote it as is done with many other abbreviations. Like LG is “Life’s good” or “Be Right Bank” becomes BRB in the digital slang language. By this logic, you must wonder then why do we use ‘k’ for thousand and not ‘T’?

In Greek, K represents “Kilo” and Kilo means a thousand. Such as,

1 Kilogram = 1,000 grams or,

1 Litre = 1,000 milliliters

That is why the letter ‘k’ is used to denote a thousand of something. It was first used by French scientists to denote thousand. The word kilo however is known to originate from the Greek language Khiloi.

## 1k Means in Money

You often must have encountered the net value of a company is millions. Or maybe when companies raise capital from VCs or other sources. For instance “Paytm raised 10M from Softbank”. Here 10M denotes to 10 time 10 Lakh i.e. 1 crore. However, if you Google 10m USD right now, it will show an amount like Rs.74,824,491. It is because of today’s USD exchange rate. You need to multiply the exchange rate with 10 lakh to determine the current value. It fluctuates on a daily basis.

## Why do we use ‘K’ and ‘M’?

What is the difference when you read 18.5k and 18,500? It is the time taken to type it, the space covered by it, and the convenience to read it. In this world of digital slangs, everything is used as short forms for quicker and easier communication.

For your information is shorted to FYI, As soon as possible is written as ASAP. It is suitable for both the person typing, as it takes less time and space and the person reading as they don’t have to count the number of zeroes to determine a value. Which is easier to read? Rs.74,824,491 or 1M? The later one, of course.

## 1K and 1M in Numbers

There is no harm in accepting that we all love shortcuts. We constantly look for ways to ease our work. Imagine writing a number 10,00,00,000 and then rewriting it in words. How many of you counted the zeros to find the actual amount? We all did! Haha! That’s actually 10 Crore. Based on the “K” and “M” shortcut we can easily write it as- Ten Million or 100M.

When we see 100M we can easily rewrite it in words without having to count and vice-versa. The whole point of doing it is to simplify the basic numerical issues we face in the world of social media. Now the counting is simple, writing it is simple and even saying it. So, there is absolutely nothing wrong in going with the trend and using K and M wherever we can to make it easier when talking about large numbers.

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## 1K and 1M in Social Media

This K and M terminology is quite commonly used at different social media platforms. The next time you spot a celebrity having 100k followers on Twitter or Instagram, you can easily guess what it is.

Ah!! And the craze of gaining millions followers has overpowered youngsters these days! Isn’t it? Imagine having 1m views or 10 m views on your social media accounts! Even the idea of it makes you feel like a celebrity! It might be easier for popular personalities to gain such big amount of followers easily. But, for a newbie it could take a lot of time, consistency and awesome content quality to reach such a milestone.

May it be Facebook, Twitter, Instagram, LinkedIn, or any other platform, having a substantial number of followers or connections brings sheer excitement. Right! So, have you planned your strategies to increase your follower count?

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We hope you are now clear on the abbreviation and usage of ‘K’ or ‘M’ with numbers. Now, that you are clear about the meaning of 1K and 1M, it won’t be difficult for you to understand some really big numbers.  You are aware of what 1k and 1m in money means and what it signifies for social media. So, are you working towards building 1m Instagram followers? Do share your ideas.

### 5 thoughts on “What Does 1K or 1M Means? Talking About Its Meaning in Money, Prices”

1. Thanks for explaining the difference between 1K and 1M in terms of prices and money. I never realized how much of a difference it makes in real-world transactions. As a regular reader of your blog, I appreciate your clear and concise explanations that make complex financial concepts easy to understand.

2. Good article with explanation.