Instagram Acquires Luma To Improve How Your 15-Second Videos Look
Luma will indeed be shutting down soon, as its employees focus all of their energy on bettering Instagram. Luma's iOS app has already been removed from the App Store, and existing users will cease to have access to the service in 2014. The Luma team has issued the following statement in the wake of the news: "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."
Instagram will likely use Luma's technology to make the videos that appear in user streams look better. These editing tools are likely to show up soon, just as soon as integration is complete. It's obvious that Instagram is trying to stay one step ahead of Vine, and hey, it's proof yet again that competition is indeed a good thing.