Instagram has 500,000 advertisers on its platform, the company said on Thursday.
Owned by Facebook, the photo-sharing social-media network offers an advertising platform that tailors ads to specific types of users. San Francisco-based Instagram has 500 million monthly active users, making a tempting target for advertisers.
The network said that since it launched its advertising platform in September 2015, Instagram users have taken 1 billion "actions" on advertisements, which includes "visiting a website, searching, shopping or telling a friend."
What's more, 1.5 million businesses have converted to "business profiles" on Instagram, giving them access to a suite of tools for business owners.
Advertisers on Instagram are based around the world, with the most coming from the US, Brazil, the UK, Australia and Canada. Instagram co-founder Mike Krieger is from Brazil.