Instagram Now Has More Than 1 Million Monthly Advertisers

Instagram is expected to announce on Wednesday that it has reached more than 1 million monthly active advertisers, as the Facebook-owned photo-sharing app tries to become a center of online commerce.

The number of advertisers has grown five-fold from 200,000 a year ago, Instagram’s vice president for business, James Quarles, said in a phone interview this week. He called the 1 million number a “milestone.”

Facebook

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bought Instagram for $1 billion in 2012, and initially, the app had limited advertising with only a handful of well-known brands.

Last year, Instagram began pushing businesses that had created standard profiles to adopt business-specific profiles, and 8 million businesses have done so, Quarles said. Instagram is able to use Facebook’s ad technology to target specific audiences.

Facebook’s apps compete against rivals such as Snap

snap

, Alphabet Google

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and Twitter

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for slices of digital advertising spending.

Quarles declined to give projections for further growth. He said there was “tremendous upside” and added: “This is about getting as many businesses as we can to have pages.”

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