Business

Instagram valuation crosses $100 billion as active users surge, says report

Updated : June 26, 2018 01:47 PM IST

Facebook Inc’s Instagram is estimated to be worth more than $100 billion, if it were a stand-alone company, Bloomberg reported.

The photo-sharing platform, which reached 1 billion monthly active users earlier this month, will likely see its revenue past $10 billion over the next 12 months on the back of increased subscriptions, Bloomberg Intelligence analyst Jitendra Waral wrote in a report on Monday.

Instagram is attracting new users faster than Facebook’s main site and is on track to exceed 2 billion users within the next five years, Waral said in the report.

Unlike Facebook, which purchased the app in 2012, the demand for Instagram is still growing in the US.

Instagram could account for about 16 percent of Facebook’s revenue over the next year, up from 10.6 percent last year, according to eMarketer data cited by Bloomberg Intelligence.

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