Instagram, the photo-sharing app that has taken a definitive lead on
iOS, said it has surpassed 27 million registered users today at the SXSW
Interactive conference in Austin, Texas.
Co-founder Kevin Systrom didn’t disclose daily active users during
his fireside chat with TechCrunch editor Alexia Tsotsis. But he did say
of all the users who have been active in the last week, 67 percent of
them used the app yesterday.
“It’s Facebook-level engagement that we’re seeing,” Systrom said.
He didn’t really offer any clarity on rumors that the company is raising $40 million at a $500 million valuation.
“Good companies are always fundraising,” he said. “Whether you’re
meeting people or considering firms, you’re always fundraising. But it
doesn’t mean we’re active. We’re trying to create a long-term, viable
company that doesn’t come and go with fads. It should be something that
lasts and creates meaningful value.”