There are now half a billion active users on the photo-sharing app Instagram, the company has said.
More than 300 million people use it at least once a day, it added.
The service was bought by Facebook in 2012 for about $1bn (£677m), and has grown rapidly ever since.
According to the company, an average of 95 million photos and videos are posted each day. Co-founder Kevin Systrom told the BBC its success was the result of "a lot of hard work".
In its five and a half years, Instagram has rocketed past Twitter, thanks in part to its adoption by high-profile celebrities and sports stars.
Instagram's biggest competitor for youthful eyeballs, Snapchat, is understood to have surpassed 100 million users.
Instagram was launched in 2010, with 25,000 people downloading the app on its first day.
In growing to the 500 million milestone, the app has suffered its fair share of controversy.
In 2012, changes to its terms of service had users worried it was looking to sell their pictures to advertisers. The changes were rolled back - the service insisted the furore was due to a failure of communication, rather than a nefarious monetisation plan. Still, users were unnerved.
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