Caroline Iverson, head of global sales at Facebook, said there are now 250 million active users a day for storytelling on Instagram, adding that one third of the most watched stories on the app come from businesses and about a million advertisers.
Interestingly, Instagram users are more than their biggest competitors, with Snapchat announcing last month that it has 166 million users a day.
Snapchat started this feature in 2013, which allows users to publish stories with photos and videos on the Internet and disappear after 24 hours, while Instagram launched this feature in August last year.
Carolyn also explained that Instagram users now reach 700 million users worldwide and also denied allegations that Instagram had copied Snapchat, explaining that Facebook created the format and a number of other services it currently uses.
Although it is not recognized, it is clear that the application of Instagram has copied the SnapeHat application, but in fact users do not care about it.