Instagram, the application recently purchased by Facebook for $1billion, is on fire. Instagram, the highly popular photo-sharing app has crossed more than 50 million users and adds an estimated rate of 5 million users per week.

The application was launched for both iOS and Android phones. At the beginning of April 2012, Instagram's users were 30 million. Soon after, the users of increase immensely by 10 million on April 13.

It is an incredible growth for an application which started in 2012 with 15 million users.

According to reports, downloads of Instagram application crossed the rate of 10 million, two days ago. Reports have also stated that most the likely factor for this growth is Facebook’s affiliation with the application.

With the rising popularity of the application, it has been predicted that Instagram users would rise immensely within the next few months.