Facebook’s photo social network company Instagram has made their first acquisition. Instagram has hired the team and bought the technology from Luma. Luma is an app that lets you capture video, stabilize the video, and then share it.
Luma’s stabilization technology is reportedly already live in Instagram, according to TechCrunch. The Luma app has been removed from the Apple App Store already and existing users will be supported up until December 31, 2013.
?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,? wrote Luma on their homepage. You can download your videos from this link if you are a Luma user. Luma used to be a part of Stanford University’s StartX startup accelerator along with Y Combinator.
Luma’s video filtering technology has the ability to shoot content with filters turned on. The filter can be removed or switched after the video has been recorded too. Luma also has sliders for changing around the brightness, contrast, saturation, and video exposure.