Instagram Stories, launched last August in response to Snapchat, is poised to become a powerful marketing tool, having quickly hit a milestone at 150 million daily users. They’re promptly following up on monetization  with last week’s launch of Stories ads. Pricing is auction based on a cost-per-1000-impressions basis.

Seventy percent of Instagrammers already follow a business, reports Instagram for Business. The app will be providing business accounts with analytics on reach, impressions, replies and exits of their Stories. Airbnb is an early adopter for their large new campaign, Trips on Airbnb (The Travel Vertical, 11/30/2016).

Read more in the Instagram blog here.