![Instagram Raising $50 Million at $500 Million Valuation [REPORT]](https://helios-i.mashable.com/imagery/archives/07eUzpXGTPPPv88biH7ktUW/hero-image.fill.size_1248x702.v1647020831.jpg)
Sources have told AllThingsD that the San Francisco-based startup is close to completing a Series B round for $50 million. The round, reportedly led by venture capital firm Sequoia Capital, would value Instagram at $500 million.
Instagram raised $7 million in its last fundraising effort in February 2011. The round was led by Benchmark Capital and a roster of recognizable individuals, including Twitter and Square founder Jack Dorsey and Quora co-founder Adam D’Angelo. Instagram had around 1.75 million registered users at the time; it now has more than 30 million.
Such a significant infusion of cash could spell a big growth period for Instagram. The startup employs just 13 people and recently moved out of Twitter's old offices into its own space in San Francisco's South Park district.