On April 3, 2012, Instagram was released for Android phones running the 2.2 Froyo version of the OS,[27] and it was downloaded more than one million times in less than one day.[28] That same week, Instagram raised US$50 million from venture capitalists for a share of the company; the process valued Instagram at US$500 million.[26] Over the next three months, Instagram was rated more than one million times on Google Play[29] and was the fifth app to ever reach one million ratings on Google Play—as of April 2013, it had been rated nearly four million times.