Instagram plans to release a video product this Thursday at a press event at Facebook’s headquarters, according to multiple sources familiar with the matter, marking the first time the robust, 100-million user network will stray from being strictly a photo-sharing app and dive head first into the world of moving pictures.
The new video product is something that the service said it was planning to do for two years now, and there have been numerous rumors about it in recent weeks. As was first reported by TechCrunch, it’s actually going to happen this week. Sources said that Thursday’s event will solely be focused on Instagram’s new video product and there will be no other Facebook product reveals.
While details of the product have been kept under wraps, sources said Facebook is seeking to differentiate itself from Vine, the popular instant video app from Twitter, which is now available on both Apple iPhone and Google Android. It recently announced that Vine has 13 million users.