Instagram is close to receiving new funding which would set its valuation at $500 million, according to AllThingsD. Citing sources “close to the situation,” the site says that Instagram will receive a $50 million round of funding reportedly be led by Sequoia Capital, which has previously invested in the likes of PayPal and YouTube. While $500 million may pale in comparison to the likes of Facebook’s $100 billion valuation at the time of its initial public offering, it does seem like a pretty hefty sum for the free photo sharing app. Instagram has been experiencing some solid growth, though — the company recently released its long-awaited Android app, which was downloaded one million times in its first day of availability.
Instagram set to receive $50 million in funding and $500 million valuation, says AllThingsD
According to a report from AllThingsD, Instagram will soon receive $50 million in funding and a valuation of $500 million.
According to a report from AllThingsD, Instagram will soon receive $50 million in funding and a valuation of $500 million.
is an entertainment editor covering streaming, virtual worlds, and every single Pokémon video game. Andrew joined The Verge in 2012, writing over 4,000 stories.
Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.
Most Popular
Most Popular
- Trump says Sundar Pichai talked him out of renaming the Atlantic Ocean
- Tesla driver using Full Self-Driving struck and killed a man crossing I-80
- The iPhone Duo is a messy, expensive, good time
- Bill Gates says to prepare for 20 years of ‘tumultuous’ AI disruption
- Sure, let’s smoosh SpaceX and Tesla together, who cares
