Instagram just released a little more detail about how its newly launched business platform is doing. The Facebook-owned visual social network said today that it just hit 500,000 advertisers on its platform. That's double what it had six months ago, according to the company's blog.
Additionally, more than 1.5 million businesses have converted their accounts from personal to formalized "business" ones in the last two months.
The company has spent the last year trying to prove itself valuable to more users than just aesthetically inclined millennials. Its latest business tools, which it launched a few months ago, try to make it easier for people to advertise on the platform. For comparison, last March Facebook announced it had more than 3 million advertisers. So Instagram still has a ways to go.
You can read my coverage of the evolution of Instagram as a business platform here.
[Photo: Instagram] CW