San Francisco – Instagram, the provider of a mobile photo
effects and sharing service, announced on Wednesday that it has raised $7
million in first round funding, led by Benchmark Capital’s Matt Cohler.
Other
investors included Quora founder Adam D’Angelo, Square founder Jack Dorsey, and
angel investors Chris Sacca and Steve Anderson.
Launched in October 2010, San
Francisco-based Instagram’s iPhone application now counts 1.75 million users,
who are sharing 290,000 photos daily.
The company will use the funds to help
scale its service for mobile and the Web.
Related Links:
http://instagr.am/blog/39/instagram-funding-benchmark
