This is reportedly the first ever acquisition by Instagram, for an undisclosed amount, as the site aims at implementing new features to its photo and video-sharing abilities.
According to Mashable, similar to how Instagram users can add colors, Luma lets users capture and stylize videos by adjusting brightness, contrast and more and they can also add, switch or remove filters once video filming is finished.
The Luma team said that the company will shut down its service as it moves to Instagram and in order to help with the transition, it will continue support for Luma until the end of the year.
The acquired company has provided a link for users to their existing download videos from the platform for safe keeping as the app is no longer available for download via the Apple's App Store, the report added.
--ANI (Posted on 27-08-2013)