Instagram co-founder and CEO Kevin Systrom just debuted a new feature on the Instragram app, simply called "Video on Instagram." The new feature which will be part of an update will allow users to create 15-seconds videos to share on Instagram. You also get editing capabilities alongwith 13 filters, which are specific to video.
Instagram is aiming for Vine which allows sharing 6 second videos, and has lately become immensely popular especially after being acquired by Twitter. Therefore, with video on Instragram Facebook is challenging Twitter yet again. Given the popularity of Instagram which has over 130 million users, and a whopping 16 Billion photos can create a slight dip in Vine's popularity.
There's video stabilization onboard as well, called "cinema" and the feature will be available on both Android and iOS together, alongwith the Instagram website. The event is still going on we'll update it with more details.
