/// Instagram Acquires Video Sharing Startup Luma
Luma, a video capture and sharing service, announced Friday it has been acquired by Instagram. Terms of the deal, which was first reported by TechCrunch , were not disclosed. The company plans to shutter the service as a result of the acquisition; users will have until December 31 of 2013 to download their videos from Luma. A Facebook spokeswoman confirmed the deal.
The rest is here:
Instagram Acquires Video Sharing Startup Luma