Luma announced the acquisition on its blog today.
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. We're incredibly excited to be able to help make a product that is already used and loved by millions of people even better.
As part of our move to Instagram, we are shutting down the Luma service. We want to make this transition as painless for you as possible. Here is a link to download your videos. We will also continue to support Luma until December 31st, 2013. Please don't hesitate to contact us with any questions, comments, or requests for technical support at email@example.com.
A heartfelt thanks goes out to every user, family member, investor and friend. We couldn't have achieved this milestone without your help. We hope to see you on Instagram!
– The Luma Team
Read More [via TechCrunch]