Instagram Is Raising Money At A $20 Million Valuation


Red hot photo sharing application Instagram is raising a series A round at a valuation of $20 million, Caroline McCarthy at CNET reports.

McCarthy doesn’t know who is leading the round, but she thinks it could be Sequoia.

Sequoia just lost out on GroupMe, so getting in on Instagram could be a nice consolation prize.

Earlier today, PicPlz, a photo sharing site announced that it raised $5 million from Andreessen Horowitz.

See Also: Here’s How To Use Instagram

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