Instagram photo editing and sharing service raises $7 million
This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.
Instagram, the photo editing and sharing startup that launched just four months ago, now has more than 1.7 million users and $7 million from Benchmark Capital.
The company behind the popular iPhone app started out “scrappy, humble and agile,” wrote chief executive Kevin Systrom in a blog post Wednesday. Now, with the help of Facebook alum and Benchmark general partner Matt Cohler, it has a hefty hunk of financing that it plans to use building an engineering team.
With nearly 300,000 photos posted daily, Instagram has also attracted support from bold-name angel investors Adam D’Angelo (co-founder of Quora and former chief technology officer at Facebook) and Jack Dorsey (chief executive of Square and Twitter co-founder).
The mobile photo space is a hopping these days. Path, a similar sharing service, said Tuesday that it raised $8.5 million from Kleiner Perkins and Index Ventures.
RELATED:
Instagram photo app passes 1 million users; Amazon reportedly on track to sell 8 million Kindles
Dave Morin’s Path and Facebook make a connection
-- Tiffany Hsu [follow]
