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November 8, 2016

Twitter May Sell Vine Rather Than Shut it Down: Report

Twitter announced just over a week ago its plans to shut down its video service Vine — but there is a possibility Vine could survive, after all.

VineTwitter, according to TechCrunch, is currently in talks with a number of potential buyers for the short-form video platform.

The microblogging firm is rumored to have received several bids, including some from Asia and one from Japan. Twitter is apparently in the process of choosing a company to own the video app and has narrowed the field from more than 10 down to five.

TechCrunch admitted it was unable to verify the names of any of the companies bidding on Vine, but added that the Japanese bidder was thought to be messaging and gaming company LINE.

A source told Tech Crunch the bids are not big. In fact, many are less than $10 million.

In a blog post last month, Vine said its app would be discontinued “in the coming months,” but would give users adequate time to download their Vines.

“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.”

If the rumors are indeed true, however, Vine users will be able to forget about downloading Vines and looking for a new service.