Only 18 months after going live, video app Luma has been acquired by massively popular photo sharing app Instagram. Both the technology and the team behind Luma are being absorbed into Instagram, which itself was bought by Facebook in April of last year.
Before being bought by the social media giant, Luma was a video-sharing app that could add filters to video as well as having a video-stabilization feature to reduce shake. With Instagram currently battling video-sharing app Vine for popularity, it is thought that the acquisition of Luma is another step towards tackling the video-sharing market.
Support for Luma will be shut down completely by the end of the year, when the entire Luma team will be integrated into Instagram. The app is no longer available for download via Apple’s App Store, but existing users will be provided with a link enabling them to download their videos from the platform.
Luma’s acquisition for an undisclosed amount marks the first ever acquisition by Instagram since the company was founded in 2010.