Instagram’s User Base Wasn’t the Only Thing Growing ⇥

Shawn Blanc:

Last week: April 6, 2012, Instagram raised another $50 million on the same valuation of $500 million.

Today: Sold for $1 billion.

That’s one hell of an increase. My bet is that Facebook wanted to ensure they captured their biggest competition in the mobile photo sharing space.

On a slightly related note, Shawn Blanc recently rolled out a dashing update to his site. You should check it out.