Categories AlphaGraphs, Technology

Instagram is worth over $100 billion: Report

Photo-sharing app Instagram, which last week announced that it has reached 1 billion monthly active users, is reportedly worth over $100 billion as a standalone company. The Bloomberg report also predicted that Instagram would exceed 2 billion monthly active users in the next five years as it keeps attracting new users at a faster pace than the parent company.

Instagram will account for 16% of Facebook’s (FB) revenue in 2018, compared to 10.6% in 2017, the report added.

Related: Instagram reaches 1 billion users; introduces long-form video

The growth rate of Instagram is backed by another study by Pew Research Center, which shows that younger users prefer Instagram and Snapchat over Facebook. As per the study, 85% of the teenagers use Google’s (GOOGL) YouTube, while 72% use Instagram, and 69% use Snapchat (SNAP). In contrast, only 51% of the teens use Facebook.

Teens Popular Social Platforms

It is worth noting that Facebook is currently trying to attract more users through its live streaming and video-on-demand service.

Meanwhile, a new study from Similar Web shows that users spend about 53 minutes per day on Instagram. This is close to the average time spent on Facebook of 58 minutes per day. Snapchat users, meanwhile, spend 49.5 minutes per day on the app. Since last year, average engagement has improved in all three social network sites.

Instagram, which is maturing as a prospective social media platform, will likely turn out to be a gold-mine for Facebook as younger audiences are pouring into the site. With newer innovations such as the IGTV, we can expect to see sustained growth in this segment of Facebook.

Most Popular

PayPal Holdings (PYPL) Q1 2021 revenue up 31%; earnings beat

PayPal Holdings Inc. (NASDAQ: PYPL) reported stronger-than-expected earnings and revenues for the first quarter of 2021. Shares of the payment service provider gained during Wednesday’s extended trading session soon after

Infographic: How Twilio (TWLO) performed in Q1 2021

Twilio (NYSE: TWLO) reported first quarter 2021 earnings results today. Revenue increased 62% year-over-year to $590 million. GAAP net loss widened to $206 million, or $1.24 per share, compared to

Uber Technologies reports Q1 loss of 6 cents per share: Infographic

Uber Technologies (NYSE: UBER) reported first-quarter 2021 financial results after the regular market hours on Wednesday. The ride-hailing company reported Q1 revenue excluding the UK accrual of $3.5 billion, up

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top