Instagram photo editing and sharing service raises $7 million - Los Angeles Times
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Instagram photo editing and sharing service raises $7 million

By Tiffany Hsu
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Instagram, the photo editing and sharing startup that launched just four months ago, now has more than 1.7 million users and $7 million from Benchmark Capital.

The company behind the popular iPhone app started out “scrappy, humble and agile,†wrote chief executive Kevin Systrom in a blog post Wednesday. Now, with the help of Facebook alum and Benchmark general partner Matt Cohler, it has a hefty hunk of financing that it plans to use building an engineering team.

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With nearly 300,000 photos posted daily, Instagram has also attracted support from bold-name angel investors Adam D’Angelo (co-founder of Quora and former chief technology officer at Facebook) and Jack Dorsey (chief executive of Square and Twitter co-founder).

The mobile photo space is a hopping these days. Path, a similar sharing service, said Tuesday that it raised $8.5 million from Kleiner Perkins and Index Ventures.

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-- Tiffany Hsu [follow]

Technology Blog
Tiffany Hsu

Tiffany Hsu is a former staff writer for the Los Angeles Times. Previously, she wrote about the California economy, fast food, restaurants, retail and alternative energy for the Business section. A Bay Area native, UC Berkeley graduate and eternal Nor-Cal fan, she once worked for the San Francisco Bay Guardian. She also did a stint at the Richmond Times-Dispatch, where she developed a passion for sweet tea. She still has faith that someday she’ll find two economists who agree.

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