In the four months since launching on Twitter, Vine racked up 13 million users who share millions of videos each day, rivalling Instagram. Facebook bought Instagram for $1 billion in April 2012. The company said it has 130 million monthly active users and 40 million photos are uploaded to the app daily.

Kevin Systrom, Instagram’s co-founder, said: “It’s the Instagram we all know and love, but it moves.”

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