Twitter will shutter its Vine video service in the coming months, the company announced in a blog post overnight. No mention was made of this in the announcement of its quarterly results.
The company announced staff cuts of 9%, which would reduce its staff numbers from 3900 to about 3550.
Vine was launched in 2013 and had about 100 million people watching videos monthly.
There appear to have been plans to launch a video service that included longer clips, but this has not eventuated. Videos from the live video streaming app Periscope, acquired by Twitter in 2015, are viewable within tweets.
{loadposition sam08}In its blog post, Twitter wrote: "We value you, your Vines, and are going to do this the right way. You’ll be able to access and download your Vines.
#Twitter shuts down #Vine as old people everywhere celebrate having one less thing to pretend to give a crap about. pic.twitter.com/xJOBrQeOlf
— National Lampoon (@nationallampoon) 27 October 2016
"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 founder Rus Yusupov was clearly disappointed at the news and tweeted "Don't sell your company!"
Don’t sell your company!
— Rus (@rus) 27 October 2016