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 nypost.com, 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.
(Photo source: xlblog.pl/ bgr.in)
