Facebook's (FB) Instagram Doubles Advertisers to ~500k in Last Six Months - FT

September 22, 2016 9:33 AM EDT

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Facebook's (NASDAQ: FB) Instagram is said to have doubled the number of advertisers it has within the last six-months since opening up its advertising into other markets, according to the Financial Times.

The company's COO, Marne Levine, says Instagram now has around 500,000 advertisers.

Top five countries in advertiser adoption are the U.S., Brazil, the U.K., Australia and Canada. Also, the top five sectors are consumer-packaged goods (CPG), e-Commerce, retail, entertainment, and technology.

Shares of Facebook are positive in early trading.

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