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

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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...

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