Instagram is now worth a whopping $100 billion




A picture is worth a thousand words, and Instagram is now worth $100 billion.

The social network, which Facebook purchased in 2012 for a then-stunning $1 billion, has increased its value 100-fold, according to Bloomberg estimates.

Instagram last week revealed that it had surpassed the 1 billion user mark for the first time and will likely see its revenue top $10 billion in 2019, according to Bloomberg Intelligence.

The photo/video-sharing site has become the top social network among teen users and is on track to surpass 2 billion users by 2023.

The new valuation comes less than a week after Instagram announced IGTV, a platform that will allow high-profile users to post videos of up to an hour long.

Instagram earlier capped video posts at 60 seconds.

Shares of Facebook, led by CEO Mark Zuckerberg, fell 2.7 percent, to $196.35.

This story originally appeared in the New York Post.




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