Vine is dead; Twitter to shut down the service
Exactly four years after acquiring Vine, Twitter decided to shut down the six-second looping video platform. Twitter said the app's "loops" would be available on the web. The announcement came after Twitter posted third-quarter earnings; 9% of Twitter's staff would be laid off. Vine stated, "To all the creators out there- thank you for taking a chance on this app back in the day."
Vine is a video sharing service where users can share six-second long looping clips called 'loops'. It was founded by Dom Hofmann, Rus Yusupov, and Colin Kroll in Jun'12; Twitter acquired Vine for $30mn in Oct'12, even before its launch. Users' videos can also be shared on other social networks like Twitter and Facebook. As of Dec'15, Vine had 200 million active users.
Vine started to fade, deserted by the audience
Vine 'stars' have seen for years what Twitter made official - Vine is dead. Popular Vine star-turned-Snapchat star, Jerome Jarre hasn't posted on Vine in over a year; he once used to rule the six-second looping video platform. However, by 2014, he and several other Vine stars began doing similar videos on Snapchat. Jarre said Vine had started to fade, deserted by the audience.
Vine star Jerome Jarre's statement
Jerome Jarre stated: "The true friends are not those platforms we use. It's like if a group of painters have just lost one of their favorite paintbrushes. Nothing more. Vine is dead, yes, but everything that was born from it is very alive."
Don't sell your company, says Co-founder Yusupov
Gradually, several of the Vine stars had moved on to larger - better-paying - pursuits. Vine peaked in Aug'14 when it was used at least once a month by 3.64% of the US' Android mobile users compared to only 0.66% today. While several were nostalgic, looking back fondly on Vine's initial days, Vine Co-founder Yusupov was regretful; he said: "Don't sell your company!"
Twitter Co-founder Dorsey pushed CEO Costolo to buy Vine
In 2013, when Twitter Co-founder Jack Dorsey announced they were launching Vine, he called it "an entirely new art form to the world." Dorsey pushed the then-Twitter CEO Dick Costolo to buy Vine even before its launch. Its six-second format led to a new variety of joke that got funnier the more it looped. Vine's video-splicing features and unique micro clips were a hit.
Vine was hot in 2013-14
During 2013-14, Vine was in demand. People were spending a lot of time on Vine, which meant brands were ready to pay to get their attention. Vine stars could make money off their millions-strong fame, creating videos that added product placements and marketing hashtags.
Twitter's attempts to save Vine not enough
Twitter tried to save Vine and make it a more lucrative option for creators. In 2015, Twitter bought Niche, a platform connecting creators with brands; experimented with longer videos on Vine carrying pre-roll advertisements. But, Snapchat and Instagram raced to compete with longer and disappearing videos. Kettle digital agency's Social Strategist Chris Gilbert said Twitter didn't do early enough on to monetize and prioritize.