Instagram Hits 27 Million Registered Users
Instagram is now officially one of the top 5 Apps to watch. The popular photo-sharing App is of course dominant on Apple’s iOS platform and according to co-founder Kevin Systrom; the App now has over 27 million registered users.
Registered users are not classed the same as active users but according to Systrom, Instagram is getting “Facebook-level engagement”. Things are so good at Instagram that there are even rumors that the company is looking to go public with valuation of $500 million.
Systrom was quizzed about the speculation but like most well trained tech executives he found a clever way to avoid confirming or denying the speculation. He said among other things that, “Good companies are always fundraising,” he said. “Whether you’re meeting people or considering firms, you’re always fundraising. But it doesn’t mean we’re active. We’re trying to create a long-term, viable company that doesn’t come and go with fads. It should be something that lasts and creates meaningful value.”
Hard to believe Instagram was launched in the latter part of 2010 given the tremendous growth it has experienced in the last year and a half. Its growth underscores the popularity of photo-sharing in a mobile environment and just how easy it is to gain traction in the space.
Instagram is getting Facebook-level engagement and it looks like it will be soon be getting Facebook-level IPO attention too.
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