Today in Tech: Is Instagram worth $500 million?

March 9, 2012, 6:53 AM UTC

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)

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