iphone App Instagram Hits 27 Million Users

The iPhone photo-sharing app Instagram, which lets users enhance their photos with filters and share them with their friends, is growing at an astonishing rate.The app now has 27 million registered users, up from 15 million in December.Find the latest news on anything and everything with World News Hour to stay in touch with current affairs and events from around the world. Get information on technology, stock prices, natural disasters and how to play at online casino sites

So far the application is only available on Apple’s iOS but a new version will soon be released for the Android platform.

Instagram’s CEO, Kevin Systrom told audience members during a session at the South By Southwest Interactive conference “We’ve been able to put together one of the most incredible Android apps you will ever see.”

“It’s a very exciting time for us. We’re growing faster more quickly than anyone right now,” he said.

Systrom and co-founder Mike Krieger attributed their dramatic growth rate to the popularity of the iPhone 4S and Apple naming Instagram as its 2011 App of the Year. Additionally, they were both featured in a Best Buy ad that aired during the Super Bowl last month.

The Wall Street Journal reported last week that Instagram is raising a new round of funding that would value the company at up to $500 million.