Instagram announced the launch of a new app yesterday that will allow users to easily make time-lapse videos. Hyperlapse, which is so far only available for iPhone, uses image stabilization technology to make videos that look as polished as users' Instagram photos. "Traditionally, time-lapse videos depend on holding your phone or camera still while you film," Instagram said on its website. "Hyperlapse lets you create moving, handheld time lapses that result in a cinematic look, quality and feel--a feat that has previously only been possible with expensive equipment." Hyperlapse's creators reportedly decided to make it a separate app rather than a build-in Instagram feature so that it would stand out to users.