Instagram, acquired by Facebook back in April of 2012 for $1 billion is now worth $35 Billion. Citigroup raised the valuation of Instagram this morning from $19 billion to $35 billion.
The acquisition came at a time when Instagram only had around 27 million users on iOS. However, the company saw over a million downloads on the first day of launching on Android, and Facebook put the pedal to the metal and closed the deal. Instagram has since grown to have more active users than Twitter.
The photo-sharing network recently announced it had surpassed 300 million active users, and has taken steps toward cleaning up spam accounts, as well as adding new filters and features in an update this week. You can freshest updates on TECHNOLOGY Today only from ADELOVE! stay tuned..