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Instagram Officially Introduces Video Function

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First "leaked" last week by TechCrunch and other tech-oriented news outlets, Instagram finally announces its video function during a brief product presentation earlier this afternoon. At the press event, which took place within Facebook's headquarters in Menlo Park, Co-Founder and CEO Kevin Systrom unveiled the new feature simply named "Video On Instagram."

The new function allows people to create 15-second short videos to share on their Instagram and Facebook accounts. Along with simple editing features and 13 new filters, Instagram also added Cinema, an image stabilization app that would clear up the typical "blotchiness" and "noise" found on cellphone videos.

Not only is Video On Instagram the popular app's biggest upgrade since its $1 billion sale to Facebook last year. It also takes aim at Twitter and its Vine function, which only allows 6-second videos. Not one to back down from a good fight, Vine's co-founders Dom Hoffman and Rus Yusopov teased some their new enhancements, which will be officially announce later this year. However, with over 130 million users monthly and some 16 billion photos shared, Instagram and Facebook clearly have the upper-hands… Check out the brief "Video On Instagram" after the jump...