UPDATE: As expected, Facebook unveiled Video on Instagram for iOS and Android.
Facebook is hosting a media event at its Menlo Park headquarters today, where it promises to unveil a “new product.”
The social network will be live-streaming the press conference on its website (Update: Watch a replay below), starting at 1 p.m. Eastern. Be sure to follow along there, and we’ll also be posting a few updates to our @PCMagLive Twitter feed, embedded below.
Word on the street is that Facebook will add video capabilities to its Instagram video-sharing service, creating a direct competitor to Twitter’s Vine.
Twitter released Vine for iOS in late January, several months after acquiring the video startup. An Android version was released earlier this month. The service, which allows users to create six-second, GIF-like videos, is apparently picking up steam. It recently outpaced Instagram in total Twitter shares.
As noted by TechCrunch, Vine is not taking rumors of an Instagram rival lying down. The company’s co-founders today posted several Vines that teased new features coming to the service, including the ability to save Vines before sharing them and a revamped video stream.
By Chloe Albanesius, PCMag