First Twitter cuts jobs. Now it chops Vine.
October 27, 2016
Twitter is in trouble, that much is clear.
The social network has been the subject of acquisition rumors over the past few months, with names such as Walt Disney and Salesforce floated as potential buyers.
It also slashed 9 percent of its workforce, and recently confirmed disappointing earnings to Wall Street.
And now it’s decided to kill off Vine.
The short-form video app, which allowed users to record six-second videos, was acquired by Twitter four years ago for $30 million.
At its peak, it counted 200 million users.
Other sites move in
But with the launch of Snapchat, another social media platform that allows users to send short videos, and growing popularity of Instagram, Vine lost users.
The elimination of Vine is part of a greater restructuring detailed by Twitter during Thursday’s earnings conference call.
The company said it’s focused on making small tweaks instead of large changes. Some of them have already been ushered in—the site recently changed its policy on counting images as part of a character count for a tweet, for example.
Twitter said it will leave the Vine website up, where people can watch Vines that have been uploaded over the years, as a sort of legacy.
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