Selfie-enthusiasts deserve some corporate gift baskets. New data, reported by Bloomberg Intelligence, estimates that Instagram is now worth over $100B.
And of course, to the acquirer go the spoils: People are hailing Facebook’s purchase of the millennial must-have back in 2012 as “genius,” and this new valuation makes it a 100-fold return for Marky Zuck and the Funky ‘Book.
*Scrolls through stories from @cats_of_instagram*
Sorry, where were we… Oh yeah, Facebook bought Instagram for $1B a year before Evan Spiegel publicly rebuffed the company’s offer to buy Snapchat for $3B.
Since then, Instagram has completely delivered on Facebook’s investment, surpassing 1B monthly active users this month, and on track to exceed 2B within the next 5 years, according to Bloomberg Intelligence analyst Jitendra Waral.
And how are Snap’s investors faring? Let’s just say, a face filter’s not gonna fix that mess.
Portrait mode is the hero Facebook needs
As Facebook’s user growth stagnates among younger demographics, Instagram continues to flourish with US teens — and we all know advertisers love teens… er, wait…
*Buries head in Stories again*
eMarketer recently estimated that Instagram now accounts for nearly 30% of Facebook’s net mobile ad revenue, with potential to grow to 40% by 2020 — and it could account for close to 16% of Facebook’s total revenue over the next year.