Instagram claims that it has 1 million advertisers, double in six months

The company also said that more than 8 million businesses are now using a business profile on Instagram, with the greatest adoption coming from the US, Brazil, Indonesia, Russia and the UK.

The company also said that more than 8 million businesses are now using a business profile on Instagram, with the greatest adoption coming from the US, Brazil, Indonesia, Russia and the UK. (Instagram)

Facebook-owned Instagram on Thursday said that it has acquired more than 1 million monthly active advertisers, nearly doubling the number in six months.

Earlier in September last year, the company had said that it had nearly 500K active advertisers on the platform.

The company also said that more than 8 million businesses are now using a business profile on Instagram, with the greatest adoption coming from the US, Brazil, Indonesia, Russia and the UK.

"In the last month alone, more than 120 million Instagrammers reached out to learn more about a business. And, we know people come to Instagram to follow their passions, and that these passions extend to brands, with 80% of Instagrammers following a business today," the company said in a blog post.

"As we continue to build a thriving business that fosters these connections, we will evolve Instagram Business profiles with this in mind. For example, later this year we will roll out the ability to book a service with a business directly from their profile," the blog post further reads.

Instagram also said that it wants to help people meaningfully connect with businesses they care about on Instagram.

"We're starting with more insights on stories, posts saved and multi-post images, so that businesses can continue to gain perspective on its followers."