#ELNews: Instagram Is Worth About $100 Billion
The Popular App, Instagram is worth a Staggering $100 Billion. It keeps growing by the day. The social media giant was bought out by Facebook back in 2012 for a sum of $1 billion, and has increased its value 100-fold in the proceeding six years according to Bloomberg.
The popular image/video sharing platform revealed last week that they have effectively accumulated over one billion users, which may help its revenue surge another $10 billion in 2019.
Instagram has now become the most widely-used social media application among teenagers, and is estimated to surpass two billion users by the year 2023.
This financial analysis comes just a week after the company launched IGTV, which allows high-profile accounts to post video content of up to an hour in length, significantly expanding upon the app’s standard 60-second runtime.
Meanwhile, shares of Facebook, which is owned by Mark Zuckerberg, have fallen 2.7 percent to $196.35.
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