Instagram was acquired by Facebook for $1B. So far this year Instagram has appeared almost without fail in the top 300 free iPhone apps tracked in the 107 countries in our AppTRAX database. The only occassional miss is China where Instagram sometimes failed to make the list. While the numbers are encouraging (but average rank isn't stellar) and shows the App Economy can mint billion dollar valuations in a short time Instagram failed to reach the top grossing iPhone list. While Instagram generates revenue outside the bounds of Apple's accounting system it does show that Facebook didn't buy Instagram for existing revenue streams. Instead and again we see an acquisition take place before an app becomes even more popular - as we saw with OMGPOP a few weeks ago and as we see again with this acqusition as Instagram had just launched its Android app a week ago. Below are details from the AppTRAX database to further highlight the performance of Instagram each week this year.