After getting acquired by the popular social networking site Facebook, Instagram has now made its first big move, as the photo sharing site has made it first acquisition. As a result of this buy out, Instagram has successfully added Luma, a video-capture, sharing and stabilization app developer, to its portfolio. The deal will not only bring the technology of Luma to Instagram, but it will also bring new talent to the popular social site. However, the interesting thing about this acquisition is that the stabilization technology of Luma already exists in Instagram.
As far as the terms of the deal were concerned, both Luma and Instagram remained tight lipped about them. Luma did reveal one thing on this occasion that as a result of this deal its iOS app has been relinquished from the App Store, but the existing users of the service will be able to get support till December 31, 2013. Luma made the news official through a post over its site, which is as follows:
“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.
As part of our move to Instagram, we are shutting down the Luma service. We want to make this transition as painless for you as possible. Here is a link to download your videos. We will also continue to support Luma until December 31st, 2013. Please don’t hesitate to contact us with any questions, comments, or requests for technical support at support@luma.io.
A heartfelt thanks goes out to every user, family member, investor and friend. We couldn’t have achieved this milestone without your help. We hope to see you on Instagram!”
Many failed to understand why Instagram made this acquisition when it already has the stabilization feature of Luma, but close examination suggests that the Y Combinator company has more to offer. As Instagram can use its “non-disruptive” video filtering technology that enables the users to make videos with filters turned on. Besides this Luma also has a set of video-editing tools that comes with sliders through which users can change contrast, saturation, exposure and brightness of videos.
This suggests that Luma will bring a lot to Instagram.
Source: TechCrunch, Luma
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