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Instagram is Worth $35 Billion, According to Citigroup

By Clip Syndicate
When Facebook bought Instagram for $1 billion in April 2012, the price tag came as a shock to many. A little more than two years later, Citigroup said Instagram is worth $35 billion, a number that the bank called "conservative" in a research note on Facebook issued Friday. It is another piece of good news in what has been a stellar 2014 for Instagram. The photo-sharing app recently hit 300 million active users , putting it ahead of Twitter.. At $35 billion, Instagram would also be worth more than Twitter, which currently has a market cap around $23.3 billion. Citi's analysts added, however, that the valuation is speculative and dependent on efforts to generate more money from the app.

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