Facebook-owned Instagram has grown to more than 400 million users, the company said Tuesday. Now, Instagram has become one of the fastest growing social networks of all time, reaching 400 million users less than five years after the photo-sharing service now owned by Facebook was created.
Instagram is poised to deliver a powerful shot in the arm for Facebook. Research firm eMarketer recently estimated that Instagram’s ad revenue will reach about $1.5 billion in 2016 and $2.8 billion in 2017. This year, eMarketer forecasts Instagram’s global ad revenue will be $600 million.
Of Instagram’s 100 million newest members, more than half live in Europe and Asia, and the countries contributing the most new users are Brazil, Japan and Indonesia. More than 80 million photos are shared on the service every day, up from 70 million in June. Former athletes David Beckham and Caitlyn Jenner are a few celebrities to recently join the app.
Around 80m photos are now shared on the site a day, and 4bn in total since Instagram launched. Nasa, the US space agency, recently published the first photo of the historic flyby of Pluto on Instagram.
The service introduced “sponsored” posts, which allows advertisers to pay to appear in users’ feeds, in 2013 and is expected to bring in $600m this year and $1.5 billion in 2016, according to eMarketer.