Instagram Acquires Luma

Luma, a provider of an app to allow users to capture and share videos, has been acquired by Instagram.

The amount of the transaction was not disclosed.

Facebook-owned Instagram added 15 second video functionality to its app in June 2013 and the acquisition will give it the opportunity to further develop it.

According to a blog post, Luma is shutting down the service (it will remain open until December 31st, 2013) and has provided a link to download videos.
The app is not in the iTunes store anymore.



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