Facebook Instagram videos: Facebook making announcement Thursday

Rumor has it that Mark Zuckerberg is trying to compete with Twitter's Vine.

The blog, TechCrunch, is reporting that Facebook may be adding videos to Instagram. The announcement that the social network may start allowing Instagram videos is expected to come at a Facebook press event on Thursday.

Facebook purchased the photo-sharing site, Instagram, for $1 billion in April 2012. 

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