Instagram is growing faster than ever, and that's bad news for Snapchat

Instagram is closer than ever to a billion users.

The app now counts 800 million monthly active users, up from 700 million in April, the company announced Monday during a presentation at AdWeek in New York City. Of those, 500 million are users who return each day, Instagram said.

SEE ALSO: The video chat app that should scare the hell out of Facebook and Snapchat

That stat stands in stark contrast to rival Snapchat, which had 173 million daily active users (DAUs) as of August. Snap hasn't announced how many monthly users Snapchat has.

More impressive than Instagram's sheer size, though, is how quickly it's still growing. The company said its latest growth was the fastest it's ever added 100 million new users.  Read more...

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