Many rumors were there round the corner about Facebook calling up with an invitation saying, ” A small team has been working on a big idea” and all tech freaks were expecting towards a new product announcement. This event is scheduled at the company’s Menlo Park, California headquarters on June 20 Thursday. A news report made by AllthingsD mentions that Facebook will be unveiling Instagram’s New Video Sharing Feature during this event tomorrow.

AllThingsD’s Mike Isaac reports:

“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.”

Instagram has attracted more than 100 million users soon after it was acquired by Facebook. Everyday around forty million photos are being uploaded by active users all across the globe. The shares of Facebook has also rose from 1.7%, to $ 24.02. Instagram’s new video sharing app excites millions of Facebook users as they can now share not only pictures but also videos.

This new app is almost similar to Twitter’s vine however the duration of videos will be more around six to ten seconds. Vine app which allows users to share video footage on an iOS or Android handset and sharing it to Vine’s own network, Twitter or Facebook has been popular since it’s launch in January. Vine was able to pass Instagram with regards to total Twitter shares just after four days of its release on Android devices.

Facebook and Twitter are having tight competition to grab the social attention of netizens for the past few months like adapting streaming radio music services and hashtags. Facebook already have a history of trying hard to match the features of rivals, points out analyst Greg Sterling. “They have seen the success that Vine has had and do not want to have Instagram lose favor because it does not offer that. I wouldn’t be surprised if they tried to do something that one-upped it.

The details of the product is still in the darkness and sources have reported that Facebook will come up with some differentiation from Vine. There is no clue about whether this new app holds filters, nor it would be available as a separate app or even part of an Instagram update. You will definitely become more addicted to Instagram when this feature becomes full on.

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