Facebook Inc (FB)’s Instagram is now bigger than Twitter Inc (TWTR)
Facebook Inc (NASDAQ:FB)‘s Instagram announced it had hit a major milestone. The service purchased by Facebook in 2012 for $1 billion has hit 300 million monthly active users. On a daily basis more than 70 million photos and videos are shared and 2.5 billion likes are generated. At times, Facebook has been accused of losing its attraction to the younger demographics but nearly 79 percent of Instagram’s users are between the ages of 12 and 34 years old.
Instagram now has more monthly active users than Twitter
The 300 million active users makes the service larger then Twitter Inc (NYSE:TWTR) and represents a healthy jump form the 100 million active users it reported in March. As of its last report, Twitter has 284 million monthly active users. The company also commands a market value of $23.55 billion on Wall Street.
Instagram allowed to flourish as separate company
While the social network has built integration with Facebook it has let the service flourish on its own as an independent service allowing it to maintain autonomy and “coolness”. Instagram has been able to leverage the parent company’s resources and talent while keeping the start-up growth.
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