Last week on Thursday, 27th October, 2016, Twitter shocked many when it announced it will be shutting down Vine. Vine has been the go to place for creators of short-looping videos. This move comes barely three years after Vine was acquired by Twitter.
Things seem to be on the downward spiral at Twitter. The buyout was a discouraging after the preferred suitors Google and Salesforce opted not to go ahead with the acquisition. At the same time Twitter was making this announcement they were also in the process of cutting down on its workforce. About eight percent of the workforce which translates to about 300 employees would lose their jobs with Twitter.
Vine lacked that extra edge to see it compete with other social networking platforms such as Snapchat and Twitter. The guys at Twitter will now pay more attention to the video streaming platform Periscope. Twitter is focused in making Periscope the go to place for streaming live events. We should not that Facebook also offers Live Video streaming so Periscope has to be innovative lest they lose the battle and sadly exit the market like its predecessor Vine.
Below is part of the statement from Team Vine and Twitter through a blog post:
“Since 2013, millions of people have turned to Vine to laugh at loops and see creativity unfold. Today, we are sharing the news that in the coming months we’ll be discontinuing the mobile app.
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. You will be notified before we make any changes to the app or website.”