Instagram is now worth more than Twitter with a value of $35 billion
It has now been unveiled that the Facebook-owned Instagram is worth more than the microblogging service Twitter, with it currently valued at $35 billion, according to Citi Research.
The news comes after Instagram recently announced that it has reached 300 million active users – showing a 50% growth in the past nine months compared to only 30 million at the time of Facebook's acquisition two years ago.
"Using what we believe to be conservative assumptions around user growth and monetization, we believe Instagram is worth $35 billion – up from the $19 billion we had previously estimated due to faster growth in its audience as well as continued monetization gains by social media properties," Citi Research analyst Mark May wrote in the firm's Friday note on Facebook.
Twitter only saw a 4.8% increase in active users in the last quarter, and Instagram only seems to going upwards after this week's elimination of spam accounts on the social platform.