Instagram just reached 1 billion users

Emma McIntyre/Getty

• Instagram announced on Wednesday it had reached 1 billion active users for the first time ever.
• In comparison, Facebook has around 2.19 billion monthly active users and Snapchat has about 100 million monthly active users.
• Instagram also announced it was launching a hub for creators to upload long-form videos and make money from ads.

Instagram just reached a new milestone: 1 billion users.

The social media company announced the updated stat at an event for press on Wednesday to announce its new long-form video hub.

Complimentary Tech Event

Transform talent with learning that works

Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

"It truly wouldnt have happened without all of you," CEO Kevin Systrom said.

As of the first quarter of 2018, Instagram parent company Facebook had about 2.19 billion monthly active users. Snapchat, Instagram's main competitor, said in February it has 100 million monthly active users.

This story is developing...

Get the latest Snap stock price here.