Instagram announced it now has more than 500 million users, including more than 300 million who use the photo sharing platform every day.
“Our community also continues to become even more global, with more than 80 percent living outside of the United States,” it said in a blog post.
Parent company Facebook’s CEO Mark Zuckerberg pointed out that “the Instagram community has more than doubled over the past two years”.
According to TechCrunch, the social media firm added its latest 100 million in the last 10 months, and said it is growing thanks to popularity in countries like Japan, Germany, France and Indonesia.
However, it noted that the growth in the number of Instagram images shared per day has slowed down: at 300 million users it had 70 million images per day, at 400 million this went up to 80 million and now at 500 million users the figure is 95 million per day. This could be because of competition from Snapchat and other image sharing services.
While Facebook has never posted Instagram’s revenues, it has said the platform has 200,000 advertisers.
In Q1 2016, Facebook’s advertising revenue grew by 57 per cent to $5.2 billion.
In the past year, Instagram has announced new features for advertisers including video carousel ads and dynamic retargeting, and also extending video ads to 60 seconds.