Instagram is now worth a whopping $100 billion

Silhouettes of the mobile users to see next to a projection screen of Instagram logo in this photo illustration March 28, 2018. REUTERS/dado Ruvic/Illustration – RC1B04777830

A picture is worth a thousand words, and Instagram is now worth $100 billion.

The social network, which Facebook bought in 2012 for a then-whopping $1 billion, increased the value to 100-fold, according to Bloomberg estimates.

Instagram last week revealed that it had surpassed the 1 billion user mark for the first time and it will probably see its revenues top $10 billion in 2019, according to Bloomberg Intelligence.

The photo/video-sharing site has become the most popular social network among teen users and is on track to surpass 2 billion users by 2023.

The new valuation comes less than a week after Instagram announced IGTV, a platform that high-profile users to post videos of up to an hour long.

Instagram previously covered video post on 60 seconds.

The shares of Facebook, led by CEO Mark Zuckerberg, fell 2.7 percent, to $196.35.

This story was previously published in the New York Post.

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