Recently, Twitter announced that it was planning to shut down Vine, but now, according to the latest reports, the company wants to sell this startup. Twitter is reportedly in talks with various companies for selling Vine. There are also some reports that the firm has received a significant number of bids for the Vine app.
Vine has 200 million monthly active users, and it was acquired by Twitter in October 2012 for $30 million. But, the offers that are being made to Twitter for purchasing the Vine are under $10 million. There is a chance that a Japanese instant messaging company Line will buy Vine. Moreover, an adult website Pornhub is also rumoured to be interested in acquiring this video sharing service.
Earlier, Twitter wanted Vine app to become a default platform for sharing the videos. Then, it had decided to shut down this service but let the users download or view the current Vine videos. Apparently, Twitter has cancelled its decision of killing Vine, and that’s great news for the people who are the big fans of this video-sharing platform.
It is important to mention here that the micro-blogging platform recently talked with Microsoft, Google, Salesforce, Verizon and some other leading companies to sell itself.
Recently, in the third-quarter earning report, Twitter announced that it was laying off 9 percent of its workforce. The analysts are saying that one of the possible reasons behind the Twitter’s decision of selling the Vine app might be that this startup does not generate a lot of revenue for the company. Let’s see which company finally purchases this startup.
A lot of Internet users in Pakistan use Vine in their free time for sharing the unique videos; they are taking an interest in uploading the funny video clips, movie clips etc. on this app.