And this new scale means a better experience for users, and a better return for advertisers.
"Having 200,000 advertisers gives us an ability to better tailor the ads that people see to their likes and interests," said James Quarles, Instagram's global head of business and brand development. "The more advertisers we have, the more relevant the ad, the better the ad experience."
Perhaps what's most striking about Instagram's advertiser numbers is how they compare to Twitter's.
In its last earnings report, Twitter said it has 130,000 advertisers, four years after the company opened its self-serve ad platform.
Instagram has a built-in advantage in helping it expand its advertiser numbers quickly: Facebook's massive advertiser base — 2.5 million strong — can easily tack on the purchase of Instagram ads.
Ninety-eight of the top 100 Facebook advertisers are also on Instagram. "We recommend that businesses be both on Facebook and on Instagram — it's the same back end, but a different storefront," said Quarles.