It was confirmed Monday that Instagram – the photo and video sharing app owned by Facebook – has acquired another company. This time, it’s video app maker Luma.
Although financial details weren’t disclosed, the value and utility of Luma to Instagram are fairly clear.
“We’re excited to announce that we have been acquired by Instagram,” the Luma team announced on their website’s home page today, adding:
Eighteen months ago, we embarked on a mission to make capturing and sharing beautiful videos easy without expensive software or heavy equipment. By joining the exceptionally talented team at Instagram, we’re taking another big step towards realizing that mission. We’re incredibly excited to be able to help make a product that is already used and loved by millions of people even better.
As part of the move to Instagram, the Luma service will be shutting down.
Support for Luma will continue through December 31st, 2013 and users can download and save their videos by visiting this link.