Instagram Is Raising Money At A $20 Million Valuation

Instagram

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

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.