Burbn, Inc.'s iOS photo-sharing app, Instagram, reported that it now has 27 million registered users, as reported by AOL's TechCrunch. Instagram co-founder Kevin Systrom said the app is seeing "Facebook-level engagement." AOL's TechCrunch reported that Systrom didn't disclose daily active users, but he did say that of all the users who have been active in the last week, 67% of them used the app "yesterday."
An Android version is expected to launch soon and, according to Systrom, will improve upon the current iPhone version. He added that the Android-based app has taken awhile because the company was focused on scaling on the iOS version.
The company is rumored to be in the process of raising $40 million at a $500 million valuation. Just months after launch, the company picked up a $7 million Series A round led by Benchmark Capital, with participation from Baseline Ventures; Square, Inc. CEO Jack Dorse; Christopher Sacca; and Quora, Inc. co-founder Adam D'Angelo.