The Instagram phenomenon continues to captivate mobile users across the globe and now generates over 5 million new users a week, according to its API. Those are absolutely amazing numbers for the once iOS exclusive photography sharing app that now boasts over 50 million total users thanks to its recent launch on Android. With numbers like this, it’s no wonder Facebook reached deep in their pockets to snatch them up.

So what makes Instagram so popular? Are those “hipster” filters really that magnetizing? Is the social sharing aspect of the app really that unique? Or is it simply the desire to be a part of something “special”? Whatever’s powering this photo sharing phenomenon, one thing’s for sure: it’s not slowing down anytime soon.

Social networking applications in general have experienced a tremendous increase in popularity over the past year and have even knocked mobile games off the top app category spot — a spot they’ve dominated over the past 40+ months.

Our desire to connect and share our lives, experiences, and photos with complete strangers friends and family is fueling the future of app development and generating quite a large amount of revenue in the process.

So congratulation Instagram, I’m looking forward to the 100 million user block party you’ll be throwing with that 1 billion dollars you’re just itching to spend (just sayin).

, photo credit: Academic Perspective

• SourceThe Verge