BLOOMBERG – 04/02/2020
Sarah Frier and Nico Grant
Instagram, the photo-sharing app Facebook Inc. acquired for $715 million in 2012, generated more than a quarter of the social-media company’s revenue last year, according to people familiar with the matter.
The app brought in about $20 billion in advertising revenue in 2019, said the people, who asked to remain anonymous because the figures aren’t public. That beats Google video unit YouTube, which recorded $15.1 billion in ad sales — a number parent company Alphabet Inc. revealed Monday for the first time. Facebook declined to comment.
