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Twitter Just Killed Vine After Wasting $30 Million

Really Bad news, viral-video stars: Twitter just announced in a blog post that it’s shutting down the Vine mobile app within the next few months. The company also announced today, in what’s unlikely to be a coincidence, that it will be laying off 9% of its workforce as it continues to struggle to be profitable.

“We value you, your Vines, and are going to do this the right way,” reads the blog post. “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.”

Vine first launched four years ago as a means of creating and sharing six-second videos. After becoming popular, it received competition from Instagram, Snapchat and other social-media platforms.

In the past year, Vine has seen a dramatic decrease of users , as apps like Snapchat, Instagram Stories have continued to grow.

A rep for Vine was not immediately available for comment.

Pesach Lattin
Pesach Lattin
Pesach "Pace" Lattin is one of the top experts in interactive advertising, affiliate marketing. Pesach Lattin is known for his dedication to ethics in marketing, and focus on compliance and fraud in the industry, and has written numerous articles for publications from MediaPost, ClickZ, ADOTAS and his own blogs.

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