Twitter have announced today that their video-sharing app and platform Vine will be closing down. The Florida-based app was acquired by the social media giants in 2012 before officially launching for a reported $30million. Twitter hoped the short-form video (maximum 6 seconds) would complement its predominantly text and photo based network.
In a blog post statement, it was announced the mobile app will be discontinued ‘in the coming months’. It was not disclosed the full reason for the closure but Twitter announced earlier on 27th October that there would be hundreds of layoffs despite better than expected quarterly results. 9% of its workforce would be let go as it became clear there was little justification for a separate app anymore.
The blog post also said: “Nothing is happening to the apps, website or your Vines today. We value you, your Vines and are going to do this the right way. You’ll be able to access and download your Vines. We’ll be keeping the website online because we think it’s important to still be able to watch all the incredible Vines that have been made.”
At its peak the app had 100 million people watching videos each months and over 1.5bn daily video ‘loops’. However, in the years since Twitter integrated video sharing straight into its main site and the prominence of video sharing increased on rival social network services such as Facebook, Instagram and Snapchat, users have dwindled in their 10s of millions. In recent times, you were more likely to see a vine video being shared on Facebook or YouTube than on the app itself, and therefore commercial opportunities diminished.
Original founder Rus Yusupov and others reacted to the news this afternoon:
Don’t sell your company!
— Rus (@rus) October 27, 2016
Genuinely bewildering that Vine would get shut down, it's one of the most creative platforms on the Internet.
— Matt Pearce (@mattdpearce) October 27, 2016
Sure, @Vine always said it was a community where things happen fast, but I didn't expect that to mean Vine itself. pic.twitter.com/npE9SGU0hs
— Rami Ismail (@tha_rami) October 27, 2016
Twitter haven’t confirmed what’s next in terms of video sharing and whether they intend to integrate Vine-like features into the main app. However, don’t fear Vine-lovers what they did say in the statement was, “We’ll be working closely with creators to make sure your questions are answered and will work hard to do this the right way,” so don’t worry, you’ll no longer have your beloved video snippets, but you will have answers for your ‘questions’ as a replacement…
When the lads at gif hear that vine is closing down pic.twitter.com/fhkCytor8N
— RamAlbumClub (@RamAlbumClub) October 27, 2016