As a standalone company, Instagram estimated to be worth over $100 billion: Report

Photo-sharing platform Instagram is estimated to be worth over USD 100 billion, if it were a standalone company, according to a Bloomberg report.

This means a 100-fold increase in return for the app, which was bought by Facebook for USD 1 billion in 2012.

The app reached 1 billion users last week after it launched IGTV, an app to support long-form videos.

This surge in the number of users will help Instagram's revenue pass USD 10 billion over the next 12 months, Bloomberg Intelligence analyst Jitendra Waral said.

Instagram is attracting users faster than Facebook, and could have over 2 billion users in the next five years, Waral added.

Instagram is more appealing to advertisers since its target audience is younger than Facebook's audience, the report added.

Instagram could account for 16 percent of Facebook Inc's revenue over the next year, an increase from 10.6 percent last year, the report said.

In India, Instagram has 59 million monthly active users as of April 2018, according to Statista. India is third on the list after the United States, with 120 million users, and Brazil with 61 million users.