Twitter’s video-sharing application Vine has taken the mobile world by storm. It is one of the most popular apps for the iPhone and has accumulated more than 13 million users since being released in January. Feeling threatened by its rival’s success, TechCrunch is reporting that Facebook will update Instagram to support video later this week. Earlier reports suggested that the feature would be similar to Vine and allow users to create and share simple videos between 5 and 10 seconds in length. Video support is seen as the initial step for Facebook to finally monetize Instagram’s more than 100 million monthly active users. Facebook is expected to announce Instagram’s video support at a press event on June 20th.