The new feature is slightly more fiddly as you have to press the video icon to then switch to video rather than doing it the snapchat way where you simply hold down the photo button. Each segment that's recorded can be individually deleted and there is a great stabilisation feature.
In true Instagram fashion you can add filters to your finished video to give it a different look. Videos can be viewed on Instagram web too.
During the event Kevin Systrom, the co-founder of Instagram announced that there are now 130 million active users of the photo sharing network with 16 billion photos uploaded in the two and half years since it's launch.
Instagram video is available now on iOS and Android. Simply update the Instagram app.