Instagram Valued At $35 Billion, Surpasses Twitter
December 20 , 2014
Photo sharing website Instagram has been valued at $35 billion—more than Twitter’s market cap of $23 billion—by Citigroup. This puts Instagram, in terms of market capitalization, way ahead of the micro-blogging site Twitter. The photo sharing site, which has more than 16 billion users, was acquired by social networking site Facebook for $1 billion in April 2012. In contrast to Twitter’s user base that expanded by 4.8 percent in the last quarter, Instagram user base has grown by 50 percent in the last nine months.