Looks like Instagram is all grown up. The Facebook-owned photo (and video) sharing social network has made its first acquisition. Luma Camera made an official announcement today on its website that the app and its team have been acquired by Instagram.
Luma Camera's niche in the ever-growing video sharing app market was its customizability. Users could apply live adjustments and filters as they recorded video, but change or remove the effects afterwards.
If Instagram decides to incorporate Luma Camera's technology, then it can further separate itself from Vine as the video sharing app with less limitations.
App acquisitions don't always lead to technology incorporations. Often, large companies will buy apps that are emerging as a competitor just to remove them from the market. Luma Camera's official statement offers hope that its developers will have a positive impact on Instagram.
From Luma Camera:
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.
Meanwhile, users of Luma Camera have until the end of the year to download their videos from the social network. The app is no longer available for download.
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