Rest in peace or live in peace?
Last month, the internet almost lost Vine forever, but according to rumors, Twitter might be able to resurrect the floundering app by selling it.
On October 27, Twitter announced that they would close down Vine, a formerly trendy app used for creating looping six-second videos.
While Vine was great for adding much-needed video content to Twitter, it had lost popularity and many of its star users in recent years, and was beginning to feel like a financial burden for Twitter.
We all got super sad, and Twitter’s ears perked up
Despite its dwindling popularity, Vine users majorly mourned the announcement, airing their grief on social media so fervently that other tech companies couldn’t help but notice.
Since the announcement, Twitter has reportedly received several bids for the app, and has narrowed it down to five bidders.
No one knows for sure who is bidding on the video app, but some suspect that Japanese messaging company Line might be interested.
The New York Times reports that Vine costs about $10 million per month to operate. Rumor has it that Twitter might be willing to sell the company for even less than that figure, sacrificing potential profits in order to be relieved of the video app.
Why would Twitter bother selling it so cheaply?
Because if someone else is able to revive the app, Twitter could benefit. Vines are easily uploaded to Twitter, so if the app regains popularity, it could keep users cross-pollinating between both apps, while also adding more video content.
Twitter might even stand to profit if brands who pay for sponsored Vines are interested in paying to increase the reach of their video ads by posting them on Twitter.
If another company buys the app and it still tanks, it could reflect poorly on Twitter. On the flip side, in the right hands, Vine could even grow to upstage Twitter.
Twitter has a tricky decision to make. Hopefully Vine lovers everywhere will come out on top if the app can be resuscitated.