Though its business model is a work-in-progress, rapidly-growing Instagram is reportedly set to...

|By:, SA News Editor

Though its business model is a work-in-progress, rapidly-growing Instagram is reportedly set to close a $40M funding round that could give the company a $500M valuation. The iOS photo-sharing platform, which now has over 15M users, was valued at just $25M a year ago. Meanwhile, Roku, which has now sold 2.5M Internet streaming boxes, is looking to raise $50M to fund its international expansion.