Struggling micro-blogging site Twitter today announced it will shut down its mobile short video sharing app Vine as it firm moves to trim extra wage weight , cut costs and turn into profitability.
According to the firm in a statement posted on Medium, ”Since 2013, millions of people have turned to Vine to laugh at loops and see creativity unfold. Today, we are sharing the news that in the coming months we’ll be discontinuing the mobile app.”
Twitter has been struggling to convince investors it can grow into profitability and since co-founder Jack Dorsey was brought back, the firm began by laying off, then experimenting with a number of initiatives to make Twitter cool again but also attract more advertisers to double up its revenue.
The firm promises its users that nothing is happening to the apps, website or their Vines yet and users can go download their best Vines via their mobile apps and it will be keeping website as well for sometime for users to access their Vines.
”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,” the firm announced.
The firm is also set to announce a third wave of job cuts after the close of the year. However, Twitter’s problem are not just Vine and job cuts. The firm ‘s biggest killers are IM services like WhatsApp, Telegram, Signal and Facebook’s Messenger which Twitter doesn’t give. Facebook was right to buy WhatsApp and is right about forcing its users into Messenger so that its old shell can become a marketplace for events, and deals like OLX.
Vine could have monetised and even made a lot of money that Twitter due to the lack of a community feel.