Two years ago, Instagram CEO Kevin Systrom was notorious for personally vetting each and every advertisement that ran on his photo-sharing app. Boy, have times changed. Since opening up a full-blown ad business last fall, Facebook-owned Instagram is pulling in lots of money from more than 200,000 advertisers, including brands that push app-install ads on the platform.
According to a new report from analytics company Sensor Tower, roughly 45 percent—or nine out of 20—of Instagram's top app advertisers collected venture-capital funding in the past year.
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