Instagram is Now Worth $35 Billion

As well as having more users, Instagram is now worth more than Twitter at $35 Billion. Citigroup raised the app’s valuation from $19 billion to $35 billion. 

The image centric social networking service was purchased by Facebook in April 2012 for a now rather cheap $1 Billion. Instagram has grown at an extraordinary rate and has quickly become one of the internet’s most popular social networking sites. 

Ever since the accusation, the company has done little to modify the app or to integrate it into Facebook. Instagram has remained extraordinarily simple, utilising only images, filters and comments to get to this big milestone. 

Being bigger than Twitter, Instagram only expands Facebook’s dominance posing the question of whether Instagram may even one day eclipse it’s parent site too. 

Source: Wired