Mobile photo-sharing start-up Instagram is hitting one milestone after another, these days. It has 30 mn users on the iPhone alone ? and picked up another million for Android the first day it was available for the platform. Now, it?s looking at something bigger: $50 mn.
According to AllThingsD, Instagram is about to finish up its Series B venture capital round. Sequoia Capital is said to be leading it, with DST a possible participant. The round is rumored to be based on an implied valuation of $500 mn. It?s A round was led by Benchmark Capital a little over a year ago, when Instagram had a mere 1.75 mn users. The round was good for $7 mn in capital.
Instagram has only 13 employees pulling it all together.
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Source: AllThingsD
Photo: @lauriedeprete via Instagram
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