Facebook Unveils Instagram Rival Weeks After Buying Instagram

In its S-1 filing, Facebook said mobile was the company's biggest weakness.

It has since spent $1 billion to acquire mobile photo-sharing app Instagram and Thursday, Facebook announced the launch of another photo-sharing app called Camera.

The app allows users to see a feed of friends' pictures and it also allows them to share multiple images at once.

Camera also gives users the ability to edit photos with filters and rotation and crop tools.

Why Facebook needed to introduce an app so similar to Instagram just weeks after acquiring the startup is yet to be explained.

The app will be available for iOS devices Thursday.

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