Instagram opened its platform to advertisers across the globe on Wednesday as the photo-sharing app seeks to make more money and compete with rivals such as Snapchat. Ads, previously available only in eight countries, will debut in more than 20 others including Italy, Spain and India, Instagram said. More than 200 countries will have ads by Sept. 30.

With 300 million monthly active users, Instagram has a an advantage over rivals because parent Facebook's vast trove of consumer data allows it to target audiences more accurately, a major selling point for advertisers.

Until Wednesday, Instagram ads had only been available in the United States, Canada, United Kingdom, Japan, Australia, Germany, France and Brazil.

Facebook, which bought Instagram in 2012 for $1 billion, dominates mobile advertising, with more than 75 percent of its $3.8 billion ad revenue coming from phones.

In addition to its signature square, Instagram introduced new layout options last month for pictures and videos allow more design flexibility.