While Twitter celebrated growing its active audience by 9 million people in the first quarter of 2017, Instagram did a little celebrating of its own. The image-sharing platform owned by Facebook announced that it now has 700 million active users, more than twice the number of Twitter users.
What’s most impressive though, is the pace at which Instagram continues to grow. The app reached 600 million users as recently as December 2016 and it only took four months for it to reach the next milestone. Never before has Instagram added 100 million users in such a short time span. At this rate, it only seems like a matter of time before Instagram becomes Facebook’s next user billionaire. With WhatsApp, Messenger and the company’s namesake social network, Facebook already has three platforms with more than a billion users.
Analysts are now impatiently waiting for Snap’s first quarterly earnings report to be released in early May. Considering the success of Instagram Stories and the momentum that carried Instagram to 700 million users, one can’t help but wonder if Snapchat stands a chance in the long run.