Facebook's Instagram May Be Getting Videos Soon

Rumors are swirling in the tech world as reports are starting to trickle out that Facebook may announce a video feature for photo-sharing app Instagram.

by Cadie Thompson

Facebook may announce a video feature for its photo-sharing app Instagram at an event it is hosting Thursday.

The company declined CNBC's request for comment on the matter, but according to TechCrunch, Facebook is planning to show off the new product, which will allow users to share short videos via Instagram. The publication cited a source close to the matter.

The move wouldn't be surprising, considering that Facebook has taken cues from Twitter, which acquired the video-sharing app Vine in January.

Just last Wednesday, the social network also announced that it was rolling out a clickable hashtag function. Twitter, Instagram, Tumblr, and Pinterest already have the function, which allows users to click on a topic with a hashtag in front of it and view what others are saying about the topic.

Last month, the Financial Times reported that Facebook would be rolling out video ads in July in a move to help tap the TV ad market.