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Facebook-owned Instagram is now worth $100 billion

After being bought by Facebook for $1 billion last 2012, the photo and video sharing platform has has increased its value 100-fold as estimated by Bloomberg.

In a report by, Instagram revealed that it had surpassed the 1 billion user mark for the first time and is seeing its revenue top $10 billion in the following year.

Instagram has reportedly become the top social network among teens and is on its way on surpassing 2 billion users by 2023.

The valuation came just a few days after the photo/video-sharing site announced its release of new feature IGTV which lets users share videos for up to an hour long.

Facebook’s value meanwhile decreased by 2.7 percent, to $196.35.

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