Instagram's still growing at a rapid pace, having added 100 million new monthly active users in just a month since it last reported a new figure. It now has 800 million users engaging with the service on at least a monthly basis, the company revealed on Monday at an event in NYC, and it has 500 million using the service on a daily basis, too.
Instagram announced the 700 million monthly active user milestone in August. It grew from 600 million to that in four months, meaning it accused its latest 100 million at an even faster clip. Despite the social network's huge user population, its growth is currently accelerating, putting it on a path to potentially catch up to parent network Facebook's user number down the road.
Instagram also told TechCrunch that it now has 2 million advertisers on the platform, which is up from 1 million in March. Most of that growth has come from SMBs, the company says.
The company also said that time spent by users viewing video on Instagram is up over 80 percent year over year. Further, users are producing more video – four times as many per day as they were last year, in fact.
These stats are encouraging for anyone investing in Instagram as a platform, and for Facebook's larger ambitions. But they're likely discouraging to Snapchat, one of Instagram's main rivals for user attention. Instagram's skyrocketing growth has come as the company copied and implemented a number of Snapchat product experiences, including Stories.