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A new estimate reveals that if Instagram were a seperate company, it would have been worth $100 billion today.
The social network, which Facebook purchased in 2012 for a the stunning $1 billion, has increased its value 100 times according to estimates.
Instagram last week revealed that it had surpassed the 1 billion user mark for the first time and will likely see its revenue top $10 billion in 2019.
The photo/video sharing site has become the top social network among teenage users and is on its way to surpass 2 billion users by 2023. While its parent company Facebook is reportedly losing younger audiences, its loss has been a gain to Instagram and other social media services including Snap Inc.s Snapchat, having features that better appeal to younger people.
Users are spending nearly as much time on Instagram as they are on Facebook. According to a recent report, thats about 53 minutes per day for Android users. A market analysis firm also recently estimated that Instagram now accounts for nearly 30% of Facebooks net mobile ad revenue, with that share potentially growing to 40% by 2020.
Instagram's future growth may be further accelerated by the recently launched IGTV, an iOS and Android supported app based video hosting and sharing service that will compete with Alphabet Inc.s YouTube. IGTV supports videos up to one hour in length, up from the previous 60 seconds limit.
