Instagram has recently announced that it had acquired Luma, a video app that was only available in the Apple App Store. Luma works very similarly to Instagram, in the sense that it allows users to shoot and share videos.
However, according to PetaPixel, its cinematic stabilization technology was what Instagram coveted most, and that there were rumors that the latest version of Instagram contains this feature.
In addition to stabilization capabilities, Instagram stands to gain a few other cool features from Luma. For one, the Luma app allowed users to apply filters live, while shooting, and remove or change them after if they wanted. Luma also offered some post-processing features, such as the ability to change contrast, brightness, saturation and exposure.
Unfortunately, this means that users who are interested in trying the Luma application out will be unable to do so, because it has been shut down as the Luma team prepares to integrate with Instagram.
Current users of the app are able to download their uploaded videos here, but it's unclear how long Luma will be keeping them there.
TechCrunch also pointed out that the acquisition highlights the difference in business strategy between Instagram and video app Vine. Instagram is making sure that it's a robust video taking and editing platform, while Vine is committed to speed and simplicity.