We all knew Vine was not forever, but it still came as a shock when a Twitter spokeswoman told the fans that it would be discontinued. Vine has been part of Twitter since January 2013 and it will be sad to see the app go. A date has not been set as yet, to when Vine will be closed down, but it will be next few months. The reason for this move is the stagnant user growth and social media platform competition. Twitter needs to keep costs down by cutting 9% (350 employees) of Twitter’s workforce.
Jack Dorsey the CEO of Twitter said: They have a plan, and will make some changes for Twitter’s long-term growth. They also said that it will not effect the apps now. They appreciate your Vines, and will be doing this the correct way. It will be possible for you to access your Vines, but you will not be able to add new Vines. The website will be kept online as it is important to watch all the Vines that have been already made. You will be informed before any changes are made to the app or website.”
Vine is popular due to its ability to create video clips within six seconds, it boasted 200 million monthly active users. By June this year, Twitter allowed users to post longer Vines in an attempt to attract new users. Instagram, who launched in 2013, gave Vine a run for it’s money and won. Vine has failed to accelerate the growth of its user base, while the revenue growth slowed by 8% to $616m. Earlier this month, Twitter’s share price fell 7%.
The Beginnings of Vine
Dom Hofmann, Rus Yusupov and Colin Kroll founded Vine in June 2012. An iOS version was released the following month, and became the most successful solution for sharing videos on the mobile devices. It grew to a staggering 200 million monthly active users but after a 3 year ride it has come to a close on Twitter. Twitter paid $ 30 million to acquire Vine, and it was thought that it would conquer the general public.
A great number of people have shared funny and creative videos using Vine. Snapchat and Instagram will now be dominating the video sharing market. The app will no longer be updated and will close permanently. Twitter said it will now focus on improving its main service and “despriorizaría” certain initiatives. Twitter will inform the public when the complete shutdown will be and if any other changes will take place. Download and save your videos, if you want to keep them before the shutdown occurs.