More ways to share video, and it'll be interesting to see how this one works, compared to some other Facebook launches.

I suspect sharing short video clips will go well with the users.

Facebook-owned Instagram is adding video, bringing an entirely new dimension to camera captures shared across the popular social-networking service.

Instagram co-founder Kevin Systrom is showing off the new product to members of the media at its Menlo Park headquarters.

With the release, Facebook finds itself in competition with Twitter-owned Vine, the iPhone and Android video application for weaving together itsy-bitsy clips into looping 6-second flicks that resemble animated GIFs. Vine has amassed 13 million registered users in just a few months and has become a preferred social media tool for celebrities and brands. The service's 6-second clips, however, don't play directly inside of Facebook, and social network users may prefer a video app that works with News Feed.Facebook Launches Video On Instagram [news.cnet.com]

Here's a link to the announcement

[blog.instagram.com...]
Earlier story
Report: Instagram To Announce Short Video Sharing [webmasterworld.com]