In a blog post announcing the user milestone Instagram said that its community shares more than 70 million photos and videos every day.
Along with the user milestone Instagram announced that it will start rolling out verified badges for celebrities, athletes, and brands using the service over the next few days.
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Finally, the company said it is taking steps to delete "fake and spammy accounts" from the service. "We've been deactivating spammy accounts from Instagram on an ongoing basis to improve your experience," Instagram CEO Kevin Systrom wrote. "As part of this effort, we will be deleting these accounts forever, so they will no longer be included in follower counts. This means that some of you will see a change in your follower count."
TheStreet Ratings team rates FACEBOOK INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FACEBOOK INC (FB) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation."