Founded in 2010 by Kevin Systrom, Instagram has grown exponentially non stop and it’s now bigger than Twitter. According to the announcement made today by the CEO, Instagram has the potential to “change the world” as he announced the social network has overtaken Twitter with 300 million users.

The company’s CEO Kevin Systrom described the milestone as “exciting” and said the company would “continue to grow”.

Twitter claims to have 284 million users accessing the network each month.

Facebook, which boasts 1.35 billion monthly active users, bought Instagram in 2012.

Speaking ahead of the announcement, Kevin Systrom said: “Instagram is about seeing a live pulse of the world right now, it’s not just about taking a photo of a cute baby or a cute dog.”

Instagram is also introducing verified accounts similar to the blue tick symbols used by Facebook and Twitter.

Constative understands regular users who have been impersonated could be verified, alongside celebrities, sports stars and brands.

“We want to be all about authentic users and you making sure that you know you’re following real people not bots, not spam accounts, not fake accounts.” Mr Systrom added.

In an attempt to get rid of fake accounts or those breaking the company’s rules, Instagram said it is deleting “spammy” accounts.

The company has warned that some users may find they have fewer followers as a result.

Instagram’s co-founder hinted the company would soon be adding new features based around specific events.