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Instagram worth US$35b, 84% over Citi's prior gauge

Mr Systrom said that the app had reached 300 million active monthly users, making it more popular than social media website Twitter Inc.

New York

INSTAGRAM, the photo-sharing app owned by Facebook Inc, is worth US$35 billion, almost double its previous valuation, according to an analyst.

Instagram's faster-than-expected user growth and increased revenue from advertising mean the company is valued at more than the US