Instagram photo social network is priced at $ 35 billion

According to Citigroup's valuation - one of the largest US banks today - Instagram's value is now 35 times that of Facebook's two years ago.

When Facebook spent $ 1 billion buying Instagram two years ago, many said that they paid too much for this photo social network. However, Citigroup's recent reviews - one of the largest banks in the US - show Instagram is worth every penny Facebook has spent. According to the bank, the value of Instagram has now reached $ 35 billion, up sharply from the $ 19 billion that Citigroup previously estimated. Instagram recently announced a historic milestone: the number of active users (active) reached 300 million, surpassing the Twitter social network.

Citigroup also believes that Instagram can contribute about $ 2 billion in Facebook's annual revenue, if it tries to make money with its app. Currently, Facebook's revenue mainly comes from this social network itself. The services, applications that Facebook has spent on acquiring like Instagram ($ 1 billion) or Whatspp ($ 19 billion) have not contributed much in overall revenue; However, Citigroup believes that this reality may change next year.

Facebook acquired Instagram in April 2012, when the app was causing "fever" on iOS with 27 million users. Instagram is an application that provides photo filters, allowing users after taking photos with the iPhone to apply these filters to create effects and to produce artistic square images.

Many filters make it look like a classic movie camera (recently, Instagram has also added 5 filters). After launching on Android, the application also quickly attracted more than 1 million downloads in the first day. That speed of "rocket" development caught Facebook's attention, and the company quickly put away $ 1 billion to buy back to enjoy "sweet fruit" today.