All may not be lost for Vine as the platform, which was shut down last week, may be re-opened under new ownership after reports stated Twitter is taking into consideration its sale.
Things have not been too rosy for Twitter, the Vine parent company after it failed to attract new users, reported lower quarter results and is still seeking for a new owner as the company is trying to stay afloat.
In a move to save some of its remaining services, the micro-blogging website company decided to shut down one of its other products, its video platform, Vine.
The announcement and actual closing down last week of the six-second video website seemed to have attracted both praises for the service and also potential buyers.
The decision to close Vine could have come as a means of reducing the Twitter deficit as the platform’s monthly costs rise up to about $10 million.
Vine had registered an almost skyrocket to fame after it was released but its market had been slowly registering lower numbers as competitors such as Instagram started being released.
Still, the users were quite vocal about the service’s close-down as they took to other social media platforms so as to praise it and PornHub even offered to buy it.
Although the latter’s site intentions are not really clear, their proposal might come to be Vine’s actual salvation as the parent company is reportedly in talks with other interested businesses.
After they October 27 statement, which announced the Vine eventual shutdown but its maintaining its playable and downloadable archives, Twitter has kept quiet about the service.
The user and creator community reaction to the news of the video platform’s closing down are reportedly said to have prompted Twitter’s search for shut down alternatives.
After reportedly receiving a number of multiple interested party offers, the micro-blogging company is said to have reduced the list to a smaller number of interested and serious potential buyers.
As presupposed estimates place the Vine selling price at a level lower than even its acquisition, they also propose alternative profit sources for Twitter from Vine, even if the latter is under new owners.
Even if the video platform comes to be sold at a low price, if it will be sold at all, Twitter could still benefit from it as the two platform are quite interconnected.
Twitter could benefit from its ad service and the Niche, one of the company’s recent acquisitions, sponsored content.
Market specialists argue that selling Vine could be both a blessing and curse for it current owner. As Twitter would benefit more from selling rather than a costly shutdown of the service, the latter would gain profit from its connected platform but also lose image points for their poor leadership.
As Twitter officials have declined to offer a public statement, the fate of Vine and its video archive is still put to the question as no final decision in regards to its fate has been announced.
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