Could video sharing be coming to Instagram?
Citing an anonymous source, TechCrunch reported today that Facebook is set to unveil a video sharing app that will allow users to post 5 to 10-second videos to Instagram. Last week Facebook sent out mysterious press invitations for an event on June 20 that stated, “A small team has been working on a big idea. Join us for coffee and learn about a new product.”
Facebook originally purchased Instagram in a $1 billion deal in spring of 2012 but has remained relatively hands-off with the photo sharing company. Rumors that Facebook was developing a Vine-like app began circulating in May when former Reuters social media editor Matthew Keys blogged that an anonymous source had told him Facebook was in the process of internally testing a new app.
The video-sharing app would once again give Instagram an edge against the six-second video-sharing site Vine. Vine was originally purchased by Twitter in 2012 and has since been released for iOS and to Android phones. According to Topsy analytics, since Vine hit Android four days ago, Vine has quickly surpassed Instagram in total Twitter shares.
The event is set to be held at Facebook’s headquarters in Menlo Park, California.
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