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Carolyn Everson, vice president of global marketing solutions at Facebook announced on Monday that Instagram has added another 100 million monthly users.

That brings the photo-sharing app to 800 million monthly active users, up from 700 million in April. Five hundred million of those are daily active users, the company said.

The announcement further solidifies Facebook as one of the most dominant companies in online advertising, posing a challenge for underdogs. Time spent watching video on Instagram is up more than 80 percent year over year, the company also said on Monday, and four times as many videos are being produced every day on Instagram compared with a year ago.

Instagram also said that it has doubled the number of advertisers on its platform since March, growing its advertiser base to 2 million.

Credit: CNBC