Instagram Buys Video Sharing App Luma
Instagram has just acquired the video sharing app Luma. This is the first acquisition of Instagram ever. Luma has a popular video capture app that will be shut down soon. Facebook has confirmed the acquisition and the deal is for both talent and technology.
Luma, formerly known as Midnost, created a video sharing app that offers various features like video capture, stablization and sharing. iOS app of Luma is now not available in App store. But users who are already using the app will receive the support by the end of the year.
Instagram will use the technology of Luma in improving Instagram Videos. Luma Team is now a part of Instagram. Techcrunch reported that Luma’s stabilization technology is already live in Instagram.
“By joining the exceptionally talented team at Instagram, we’re taking another big step towards realizing that mission,” the Luma team wrote.
Few days back we reported that Vine was celebrating 40 million users. This also forced Instagram to take few hard steps to improve its video technology. We wish to see few more features in Instagram in near future.