Battle between social media giants

Instagram video: Facebook aims to cut back Twitter’s Vine

Instagram launched a video-sharing tool on Thursday, in a move that will place the Facebook-owned company in direct competition with Vine, the Twitter-backed video app.

Instagram CEO Kevin Systrom made the announcement at Facebook’s Menlo Park headquarters in California, promising that Instagram video would incorporate “everything we know and love about Instagram, but it moves”.

“Over the past two and a half years, Instagram has become a community where you can capture and share the world’s moments simply and beautifully,” Systrom said in a blogpost accompanying the announcement. READ MORE …