According to stock market reports, Facebook shares rose over one percent yesterday as Instagram reached a milestone 400 million users and passing twitter to become the number one social network. Various experts believe this jump was due in part to the user growth of Instagram– the popular photo-sharing app currently owned by the Menlo Park, California social network–especially overseas.
Instagram officially reported its 400 millionth user this past Tuesday. Technology commentators see this as “a tremendous jump” from the 300 million users Instagram announced last December (2014).
Over half of the newcomers to the Instagram app reside in Asia and Europe. In fact, sources indicate that 75 percent of Instagram’s users are at present outside of the United States of America. Various pundits consider the growth of Instagram to be impressive especially when they also note that Facebook’s membership numbers are at present reported to be slowing.
Shebly Seyrafi, managing director of technology and Internet research at FBN Securities, told the press: “Mark Zuckerberg knows what he’s doing. Instagram is going to be a strong growth driver for the company for the next several years — and I think it’s going to continue to grow quite rapidly.”
In an attempt to capitalize on the recent turn of events, Instagram has already begun to expand their advertising on the website. On September 30 2014 they will also be making their new 30-second long video advertisement software available to private industry. An eMarketer report estimates that Instagram ads will probably rake in a total of $600 million this year. They also expect Instagram to earn as much as $2.8 billion by the year 2017.
Freelance writer Jack S. Chesney notes that the growth of Instagram should be no surprise as each generation becomes more focused on images rather than print. He believes most people miss what he calls “the obvious”.
“We have multiple generations moving away from using their own imaginations and accepting the images presented to them by others. Additionally, we have people now who somehow feel the urge to constantly document and share the proof of their constant state of happiness as well. These things have to be good for Instagram even if they aren’t good for society as a whole.”
Instagram Beats Twitter By 80 Million Users