Today in Tech: Is Instagram worth $500 million? by JP Mangalindan @FortuneMagazine March 9, 2012, 6:40 AM EDT E-mail Tweet Facebook Google Plus Linkedin Share icons Fortune’s curated selection of tech stories from the last 24 hours. Sign up to get the round-up delivered to you each and every day. Instagram CEO Kevin Systrom. * Popular photo-sharing app Instagram may soon raise a new round of funding valuing the startup at up to $500 million. (The Wall Street Journal) * A profile of Hector Xavier Monsegur, aka “Sabu.” The online figure led a group of “hacktivists,” and then when caught, contributed to their capture by becoming a federal informant. (The New York Times) * Pinterest now drives more web traffic to pages than Twitter, joining the ranks of StumbleUpon, Google GOOG , and Facebook. (Silicon Filter) * Reddit has a new CEO in Yishan Wong, who has previously served as Facebook’s Director of Engineering and a PayPal Engineering Manager. (VentureBeat) * News app Pulse has partnered with companies like Patch, Groupon and LivingSocial to bring local news and deals to readers by way of a new section within the app, appropriately dubbed Pulse Local. (Pulse) Don’t miss the latest tech news. Sign up now to get Today in Tech emailed every morning.