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Recently, Luma, a Palo Alto, California based start up company which provides a better HD video sharing platform, has announced to shut down. Not actually "shut down" but the recent blog post from the same site has mentioned that the company has already been acquired by the popular Instagram.
One of the most popular image and video anchoring site Instagram definitely is looking forward to making their video more affective by making such a move by acquiring the site that stabilizes the video capturing.
The blog post from Luma reads "We're excited to announce that we have been acquired by Instagram 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."
The video stabilizing and sharing platform Luma has also announced that the service will not be available after December 31, 2013. Thus they have further said their users to download their respective videos before the aforementioned date.
On the other hand Instagram has not mentioned anything regarding the acquisition. Moreover, Instagram users might see a great video features from here on but it might take some time to get it incorporated into the engines of Instagram. Perhaps Luma is likely to bring more users to Instagram.