Recode reports today that both Instagram and Twitter have just reported very successful quarters as far as attracting millions of new users is concerned.
Facebook-owned Instagram now has 700 million monthly active users, after adding 100 million accounts in just 4 months, eclipsing the 6 months that it took to rise from 500 million to 600 million users, and the 9 months that it took to rise from 400 million to 500 million users.
And Twitter is reporting similar good news, at least as far as new users is concerned, having added nine million new users in the last quarter, which is the highest number of new users since the beginning of 2015. And while Twitter did report a business decline of approximately 8%, representing the company’s first ever year-over-year decline, as Recode points out, this is still a lot better than the business decline of around 14% that Wall Street was predicting.
Sources: Instagram is growing faster than ever and now has 700 million users
Twitter added nine million new users last quarter, the most since early 2015