Update: Apple has just announced the winner of the $10,000 iTunes card: Gail Davis of Orpington, Kent, UK. After downloading Paper Glider, Davis became the 10 billionth customer at the Apple App Store.

"With more than 10 billion apps downloaded in just two and a half years-a staggering seven billion apps in the last year alone-the App Store has surpassed our wildest dreams," said Philip Schiller, Apple's senior vice president of Worldwide Product Marketing, in a statement. "The App Store has revolutionized how software is created, distributed, discovered and sold. While others try to copy the App Store, it continues to offer developers and customers the most innovative experience on the planet."

How would you spend $10,000 at Apple's App Store? On Saturday Apple announced it has reached its 10 billionth download, ending a promotion to award a $10,000 iTunes gift card to the 10 billionth customer.

"Thank You. Ten billion times," Apple wrote on its homepage. The winner's name will be announced on its site later on.

Last week Apple announced it was giving away a $10,000 iTunes gift card to the 10 billionth customer. Since the promotion began on Friday, January 14, the App Store received nearly 25 million downloads.

Apple launched the App Store in 2007 featuring mobile software for iOS devices, and is currently attempting to trademark the phrase "app store." See what analyst Will Greenwald thinks the App Store could learn from traditional game stores.

Now about that gift card. Is there even $10,000 worth of apps to download? With most paid apps costing no more than $0.99, or $4.99 at the most, the recipient may take quite a while to finish his prize.