Instagram has 500 million daily active users making posts

Instagram continues to grow at a rapid pace, now boasting more than 800 million active users, with 500 million of those coming each day, the company said at Advertising Week event today.

Carolyn Everson, vice president of global marketing solutions at Instagram's parent company Facebook, said that the social app sat at 700 million users in April, adding more than 100 million active users since then, according to CNBC. It had previously grown from 500 million to 600 million users in six months last year.

The company also reported that it is now reached two million monthly advertisers, which is a 100% jump since it hit one million back in March.

Instagram continues to dominate rival Snapchat, with the latest numbers dwarfing Snap's latest daily active users of 173 million in August. Mobile video has been a big draw, while Instagram Stories alone has outpaced all of Snapchat, with 250 million daily active users.

Instagram just started to let users track followers. However, the company has acknowledged that it has some work to do on its advertising algorithm that targets its own ads to users.

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