It seems like just yesterday when Instagram was launched exclusively on iOS. That happened back in 2010
, and a version for Android users soon followed
. Just days later, Facebook acquired Instagram for approximately $1 billion
. At the time, Instagram was known for the filters it offered members sharing pictures on the app. Since then, Instagram added a number of new features including Stories, which was admittedly copied from Snapchat.
Today, Instagram announced that it has one billion active monthly users. The app's rate of growth is close to 5% per quarter, dwarfing a competitor like Snapchat and its own corporate parent, Facebook. The former saw the number of daily users increase 2.13% in Q1, reaching 191 million. Facebook reported a pi-like monthly growth rate of 3.14% with 2.196 billion monthly active users.
While Facebook doesn't report Instagram's financial figures separately, eMarketer expects that it will bring in $5.48 billion in revenue from U.S. ads this year, up 70% from 2017. Instagram reportedly is responsible for 28.2% of Facebook's mobile ad revenue. Speaking of which, hitting the one billion active monthly user's mark will help Instagram (and thus Facebook) in two ways. One, it should be able to garner more advertisers who want to reach a large number of people. And two, it can charge more for these ads.
"Instagram is now a global community of one billion! Since our launch in 2010, we’ve watched with amazement as the community has flourished and grown. This is a major accomplishment — so from all of us at Instagram, thank you!"-Kevin Systrom, co-founder and CEO, Instagram