Instagram for Android has been a runaway success: Just 24 hours after its release, the app had already been downloaded one million times. Now, the popular photo sharing application can chalk up another milestone. As of Tuesday, Instagram for Android has been downloaded a total of 5 million times. That’s 5 million downloads in the six days it has been available. It’s no wonder Facebook is willing shell out $1 billion to purchase Instagram.
Facebook didn’t specifically say how it will integrate the service, which has roughly 30 million users, into its business model, although CEO Mark Zuckerberg promised in a blog post on Tuesday that he will allow the company to operate independently. That means the embedded support for sharing to competing social networks, such as Twitter and Tumblr, remains intact. Still, we’re betting that Facebook has big plans for monetizing the platform and are guessing that will start with charging for promoted posts.