The looping-video app will be shut down “in the coming months” as the app’s struggling owner Twitter slashes costs in search of profits.
NEW YORK POST reports in a blog post on Medium, Vine and Twitter said that while the mobile app used to create Vine’s six-second videos will disappear, the website will remain online “because we think it’s important to still be able to watch all the incredible Vines that have been made.”
A pioneer of mobile video sharing, Vine has lately lost eyeballs with the rise of Snapchat and Instagram.
Over the past year, Twitter has lavished attention on its Periscope live-streaming app.
After the Thursday announcement, VINE Co-Founder RUS YUSUPOV tweeted;
“Don’t sell your company!”
Asked about the rationale for axing Vine, a Twitter spokeswoman said it was “one element of the restructure that was announced this morning during our earnings call, same rationale.”
Earlier Thursday, Twitter announced it was slashing 9 percent of its workforce as it bids to become profitable next year.
Thursday, in a letter to investors, TWITTER said;
“We intend to fully invest in our highest priorities and are de-prioritizing certain initiatives and simplifying how we operate in other areas,”
“The restructuring, which focuses primarily on reorganizing the company’s sales, partnerships, and marketing efforts, is intended to create greater focus and efficiency to enable Twitter’s goal of driving toward GAAP profitability in 2017.”HOWEVER; as we eulogize for the VINE, the really good folks over at ROLLING STONE Magazine have for us - 8 REASONS WHY VINE MATTERED: