On Sunday, rumors were making rounds online about Facebook social network likely set to announce a new RSS-reading tool soon; but analysts' speculations on Monday suggested that Facebook's Instagram photo-sharing app may, as early as this week, see the addition of video capability.

The speculations - that Facebook's popular subsidiary Instagram will be adding a feature which will enable people to create as well as share short videos - are based on the nature of invites which Facebook has sent for its forthcoming press event on June 20.

Though there is no precise mention of any specific announcement to be made by Facebook at the event, the hearsay that video capability may be coming to Instagram is rooted in the fact that the snail-mail cards read thus: "A small team has been working on a big idea. Join us for coffee and learn about a new product."

On the lines of the present model of Instagram, which gives users the ability to click pictures and select interesting color filters to give them a unique spin, the speculated video update will allow users to post short video snippets and share them with friends.

Meanwhile, despite the fact that there have thus far been no indications or confirmation from Instagram about any big update being on the cards, a few news leaks of late have hinted that the company is seemingly in the process of testing new video functions.