Instagram has just acquired Y Combinator company Luma (formerly known as Midnox). The deal brings both the Luma team and technology to Instagram. Luma had created a video capture, stabilization, and sharing app, which will be shut down soon. Existing users can export their videos now.
The Luma team writes “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.”
More details to come.
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