More than 300 million users are registered with Instagram, and use the service each month.
Facebook purchased Instagram back in 2012, and it looks like it was a wise move.
Instagram CEO Kevin Systrom says the company will "continue to grow" when speaking to BBC Newsbeat.
Before the announcement was made Systrom said that "Instagram is about seeing a live pulse of the world right now, it's not just about taking a photo of a cute baby or a cute dog."
The company has adopted a similar approach to Twitter and Facebook by using the blue tick symbol to notify users of verified accounts. This symbol is mainly used to identify regular users and to ensure followers of them that they are indeed following to actual user account of that individual or brand.
"We want to be all about authentic users and you making sure that you know you're following real people not bots, not spam accounts, not fake accounts," said Systrom.
Instagram has said that some users may find they have fewer followers, as the company are moving to delete fake or spam accounts in their attempt to clean up the service.
Features that revolve around events are to be introduced, the company hinted:
"You're literally getting a view of what's happening in the world right now.
"What we need to do is figure out how to take the fact that everyone's contributing in the world and broadcast that more globally.
"If you're interested in what's happening at the World Cup, you can peer in, see the football players and see what they're thinking and doing before they go onto the field.
"Those are the types of things that I want to enable over the next year."
Adverts have recently appeared on Instagram with 'sponsored posts', which some users aren't too pleased about.
Systrom explained that the reason they're using the adverts is simply due to the cost of maintaining the service, saying, "When you get to 300m users it's not cheap to run that service and you need to make sure to be able to hire more people."
Instagram launched in October 2010, reached 100 million users in February 2013, and has now gained over a further 200 million just over a year and a half.
You can read the announcement of it's user numbers over on Instagram's blog.