Twitter.com, which is on its last legs, is shuttering their once popular Vine video app.
“We’ll be working closely with creators to make sure your questions are answered and will work hard to do this the right way,” Twitter’s Vine team wrote in a Medium.com post on Thursday.
The social media platform is hemorrhaging money and recently announced plans to lay off 350 staffers — 9% of its workforce.
NY Daily News — Twitter dropped $30 million to buy Vine in October 2012, only four months after Dom Hofmann, Rus Yusupov, and Colin Kroll founded it. It immediately became a hit for sports, journalism and comedy videos, and launched the careers of some self-styled web personalities, such as King Bach and Liane V.
But the industry has since caught up to Vine-land, with Twitter videos and several live-stream apps taking it place.