Instagram Shoots For $50 Million Funding Round, $500 Million Valuation


Instagram Raising Series B Funding

Instagram is on a roll this week, first they finally released their long awaited Google Android application and now the company is believed to be completing a $50 million Series B funding round led by tech guru’s Sequoia Capital. If the company is successful, and we’re 99.9% sure they will be Instagram will be valued at $500 million.

Since launching in March 2010 as an iOS app the company has managed to attract more than 30 million users thanks to awesome image filter options, an open API that makes third party integration a breeze and a web presence unmatched by other social photo sharing platforms.

Instagram proved its success on April 3, 2012 when it launched on the Android market and received more than one million downloads overnight.

News of Series B funding shouldn’t come as a surprise in November 2010 Instagram CEO and co-founder Kevin Systrom told TechCrunch:

“Of course at some point we’re going to be raising a round, but I haven’t even created a pitch deck. I haven’t signed a term sheet. We’re sitting in the office programming all day. We’re just not at the stage where we need to raise a series A.”

The company would go on to raise $7 million in Series A funding led by Benchmark Capital with the help of Square and Twitter co-found Jack Dorsey.


James Kosur

James Kosur has worked in the new media space for the last 10 years, helping many publications build their audiences to millions of monthly readers. He currently serves as the Director of Business Development at Business2Community.com and the CEO of Aven Enterprises LLC.

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