Facebook’s Instagram hits 400M users, beats Twitter

Facebook-owned Instagram has hit 400 million monthly active users, making it far larger than rival Twitter.

The latest benchmark comes nine months after the app hit 300 million users.

Earlier this year, Twitter reported its monthly active users hit 316 million in the second quarter, a 15 percent rise.

For Facebook, the surge in Instragram users means a better chance to monetize the network. It recently introduced sponsored posts and plans to place targeted ads.

Read more from CNBC.