SAN FRANCISCO, March 22 Instagram is expected to
announce on Wednesday that it has reached more than 1 million
monthly active advertisers, as the Facebook Inc-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 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
Facebook's apps compete against rivals such as Snap Inc
, Alphabet Inc's Google and Twitter Inc
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."
(Reporting by David Ingram; Editing by Peter Cooney)