Instagram today has already introduced the Instagram Notes feature that allows users to share text within the 60 character limit. Apart from that, Instagram also said it will introduce a new feature, called Instagram Group Profiles.
Through it, later users can create and join a group with other friends, and then do sharing that can be seen only through the members of the group.
Instagram says a group profile can be created by clicking on the "+" sign and then selecting Group Profiles. This feature is not yet accepted by us at the time of writing this article.
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