LONDON: Meta Platforms’ Instagram has grown to 3 billion Monthly Active Users, CEO Mark Zuckerberg said on Wednesday, marking another milestone for one of the most popular social media apps in the world.
Meta last disclosed Instagram’s user figures in 2022 when Zuckerberg said the app had hit more than 2 billion monthly active users.
Meta, previously known as Facebook, bought Instagram for $1 billion in 2012, a move that had raised questions about the company’s strategy as the social media app had begun with just photo-sharing without significant revenue.
Since then the app has grown astronomically and some firms have estimated it will make up more than half of Meta’s US ad revenue this year.
A major factor contributing to Instagram’s success is the Reels feature which launched in 2020 and allows users to create short-form content — a market that faces fierce competition from rivals such as TikTok and Google-owned YouTube shorts.
TikTok, owned by Chinese technology behemoth ByteDance, has more than 1 billion users globally who visit monthly, a company spokesperson said earlier this month.
Meta CEO Zuckerberg says Instagram has grown to 3 billion monthly active users
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Meta CEO Zuckerberg says Instagram has grown to 3 billion monthly active users
- Some firms have estimated that Instagram will make up more than half of Meta’s US ad revenue this year
University of Hong Kong hosts the first Saudi Economic Forum to boost China–Saudi ties
- The high-level event served as a new platform for bilateral dialogue and cross-sector collaboration
RIYADH: The University of Hong Kong (HKU) has hosted the first-ever Saudi Economic Forum in Riyadh, bringing together nearly 100 senior officials, academics, and business leaders to deepen cooperation between China and Saudi Arabia in education, innovation, and economic growth.
Held under the theme “Enhancing the Global Competitiveness of Chinese and Saudi Institutions,” the forum marked a significant milestone in advancing strategic alignment between China’s Belt and Road Initiative and Saudi Vision 2030.
The high-level event served as a new platform for bilateral dialogue and cross-sector collaboration, with participants exploring joint opportunities in investment, technology, renewable energy, and artificial intelligence.
Professor Hongbin Cai, dean of the faculty of business and economics at HKU, said the university aspires to become a “knowledge bridge” between the two nations, leveraging its global standing and extensive international networks. He noted that educational collaboration would be a cornerstone of the Saudi–Chinese partnership.
Saudi Arabia’s Assistant Deputy Minister of Investment, Fahad Al-Hashem, emphasized the depth of the China–Saudi partnership, noting that bilateral trade now exceeds $150 billion, with a growth rate of around 30 percent annually.
He reaffirmed the Kingdom’s openness to partnerships with China’s leading universities and technology companies, particularly in future-focused sectors aligned with Vision 2030, including education, digital transformation, AI, and clean energy.
The forum featured panel discussions on cross-border education, global city development, and technology transfer, with experts stressing the importance of joint ventures in the digital economy and smart infrastructure.
Participants said Saudi Arabia could benefit from China’s successful experiences in energy transition, infrastructure modernization, and innovation ecosystems as it builds globally competitive cities and institutions.
The Saudi Economic Forum concluded with calls for sustained academic and corporate partnerships to enhance institutional excellence and global competitiveness. Organizers said the initiative will continue to facilitate knowledge exchange and support national transformation goals in both countries, namely in the fields of technology and innovation.
