Twitter Shuts Down Vine Video Service.
Twitter is shutting down its video service, Vine, in the coming months. This announcement comes on the heels of the social media giant laying off 9% of its staff in a bid to cut costs.
Twitter did not disclose why it was shutting down the service, but in a Medium post thanked those who created or viewed content on the platform.
The post stated, “To all the creators out there — thank you for taking a chance on this app back in the day. To the many team members over the years who made this what it was — thank you for your contributions. And of course, thank you to all of those who came to watch and laugh every day.”
Reports from USA Today states that no exact timeline was given for when the service would end.
Twitter says it will be keeping the site and its content online “because we think it’s important to still be able to watch all the incredible Vines that have been made.”
Rus Yusupov, founder of Vine, expressed his thoughts on Twitter with four words: “Don’t sell your company!”
Yusupov sold Vine to Twitter for a reported $30 million in October 2012 before the service had even launched to the public.