Facebook Reaches All-Time High – Instagram Achieves Milestone of 1 Billion Monthly Active Users

Facebook (FB) shares reached an all-time high of $203.55 on Wednesday, but were trading at $202.03 on last look for a 2.3% gain from the previous close, after Instagram said Wednesday it has reached 1 billion monthly active users, after hitting 800 million monthly active users in September 2017.

Instagram’s user count continues to grow at a great pace since it was acquired by Facebook in 2012, when it only had 40 million users. Instagram joins other Facebook-owned apps that have hit the milestone, namely Whatsapp at 1.5 billion users and Messenger at 1.3 billion users. Facebook, meanwhile, has reached 2.2 billion users.

Instagram’s achievement was announced at an event in San Francisco, where it also launched its new standalone long-form video app IGTV.

Facebook, meanwhile, reached an all-time high less than two months after the Cambridge Analytica scandal.