As reported earlier today, Apple’s iTunes Music Store sold its one billionth song a little after midnight Thursday. Apple has now revealed the name of the person who downloaded the track and what song he purchased.

The billionth song was “Speed of Sound” by Coldplay and was purchased by Alex Ostrovsky from West Bloomfield, Michigan. As the grand prize winner of Apple’s billion song countdown contest, he will receive a 20-inch iMac, 10 video iPods and a $10,000 iTunes gift card. In addition, Apple will establish a scholarship to the Juilliard School of Music in his name.

“I hope that every customer, artist and music company executive takes a moment today to reflect on what we’ve achieved together during the past three years,” said Steve Jobs, Apple’s CEO. “Over one billion songs have now been legally purchased and downloaded around the globe, representing a major force against music piracy and the future of music distribution as we move from CDs to the Internet.”