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Instagram launches video feature

Instagram announced Thursday that its photo-sharing app will now be able to record, edit and share videos.

Instagram's co-founder Kevin Systrom made the announcement at a press event at Facebook's headquarters in Menlo Park, Calif. after being introduced by Facebook CEO Mark Zuckerberg.

Instagram's new feature will give users the ability to record 15 seconds of video, delete unwanted clips, choose from 13 filters to apply and customize a preview image. Users will be able to see the video in their Instagram feed, which will play only once when prompted. Systrom also unveiled an image-stabilizing feature called "cinema."

The new feature puts Instagram in direct competition with Twitter-owned Vine. The video-sharing app launched in January and gained popularity quickly.

Instagram's new features are immediately available on iOS and Android devices, as well as the Web.

Instagram reported 130 million monthly users, 16 billion photos shared and 1 billion likes every day. The photo-sharing app was bought by Facebook last year for $715 million.