Instagram valued at $1000 billion

MUMBAI: Photo and video-sharing social networking service, Instagram, is estimated to be worth $1000 billion, if it were a stand-alone company. According to data compiled by Bloomberg Intelligence, Instagram could account for 16 per cent of Facebook’s revenue over the next year, which is up from 10.6 per cent in 2017.

Facebook acquired Instagram in 2012 for over $1 billion in a cash and stock deal.

The social media platform recently announced the addition of Instagram television (IGTV) which will allow users to upload long format content.

Instagram had over a billion users as of last week after it launched IGTV.

According to latest stats by Statista, Instagram has nearly 59 million monthly users in India as of April this year only after the US with 120 million users and Brazil with 61 million.