When Facebook bought Instagram in 2012 for USD1 billion, the amount was considered staggering. But it is nothing compared to what Citigroup has valued the image sharing app at.
Last week Citigroup had valued Instagram at USD19 billiion. But after Instagram announced that it now has more than 300 million monthly active users, Citigroup has reexamined its previous evaluation and Instagram’s current worth is believed to be USD35 billion.
With over 300 million active users, Instagram now has more users than Twitter (284 million). Its users are also more active than Twitter’s.