In April of 2012, most people were stunned to hear that Facebook had agreed to buy picture and video sharing app Instagram
for $1 billion. Many felt that Zuckerberg and company had overpaid for what was essentially an app known for its photo filters. And how would Facebook monetize the app? As it turned out, the investment appears to be a grand slam for Facebook with a new report published today by Bloomberg
that estimates the value of Instagram at $100 billion.