Instagram, an online mobile photo, video-sharing, and social networking service, is now celebrating its new milestone! 

The social network that allows users photo-sharing and video sharing, announced on their official blog the milestones they achieved. In the blog post, they wrote that the community has grown to more than 500 million users.

The social network that is now owned by giant social media company Facebook, had more than 400 million users in September 2015. Now, it has more than 80% active users outside the United States of America. The company boasts that there are more than 300 million people use the app every day.

The photo and video sharing social network has quickly surpassed its rival Twitter, which has more than 300 million users, while its mother company Facebook has about 1.6 billion users. Mark Zuckerberg's Facebook bought IG for $1 billion dollars in 2012, which was the first large acquisition.

Currently, IG is one of the most popular social media apps around the world, and it is expected to deliver more revenue to Facebook. A research firm, eMarketer predicted the company will generate $1.5 billion in ad revenue this year, Times of India reported.

IG has become a leverage of Facebook's popular advertising technology and resources to target highly specific audiences.

Instagram added to their statement that their users shared on average more than 95 million photos and videos every day, with posts garnering 4.2 billion likes per day.