Instagram has 27 Million Users and Touts Coming Android App
The photo sharing application Instagram is doing very well. The company announced today that it had 27 million registered users at the SXSW Interactive Conference in Austin, Texas. Right now, the app is only available for the iPhone.
That will soon change with the company mentioning that the android version of its app is nearly available. Rumors have been circulating that the company is raising $40 million and has a $500 million valuation. “Good companies are always fundraising,” Co-founder Kevin Systrom said. “Whether you’re meeting people or considering firms, you’re always fundraising. But it doesn’t mean we’re active. We’re trying to create a long-term, viable company that doesn’t come and go with fads. It should be something that lasts and creates meaningful value.”
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