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March 9, 2012 05:06 am GMT
Instagram, the photo touch-up and sharing app, doesn't make a penny in revenue from consumers, but it's picking up users faster than you can click on a point-and-shoot camera, and the app is, well, just kind of great. Now, Instagram is poised to pick up another round of funding worth about $40 million, which will value the startup at $500 million, according to reports.According to the WSJ, which was the first to report that the company was raising a new round of financing, the new valuation is about 20 times what the company was worth a year ago when it raised $7 million from Benchmark Capital, Baseline Ventures and Andreessen Horowitz. Instagram itself has not confirmed the new financing.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/x1ZMvb5PMuI/
No Filter Required: Instagram Reportedly Raising $40M At $500M Valuation
Instagram, the photo touch-up and sharing app, doesn't make a penny in revenue from consumers, but it's picking up users faster than you can click on a point-and-shoot camera, and the app is, well, just kind of great. Now, Instagram is poised to pick up another round of funding worth about $40 million, which will value the startup at $500 million, according to reports.According to the WSJ, which was the first to report that the company was raising a new round of financing, the new valuation is about 20 times what the company was worth a year ago when it raised $7 million from Benchmark Capital, Baseline Ventures and Andreessen Horowitz. Instagram itself has not confirmed the new financing.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/x1ZMvb5PMuI/
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