Twitter announced on Thursday morning that it would be shutting down Vine, its short video service app in the coming months.
Vine was founded by Dom Hofmann, Rus Yusupov, and Colin Kroll in June 2012. Twitter acquired the company in October 2012 for a reported $30 million before the app had even launched, as a way to share short, six-second video clips. Initially envisioned as a social video sharing service, Vine quickly attracted a new generation of creators looking to reach an audience with short, pointed stand-up comedy.
The announcement comes after Twitter announced across-the-board job cuts, with plans to lay off 9 percent of its workforce, which equals about 350 people. It’s unclear at this point how many Vine team members will be among those laid off.
“We value you, your Vines, and are going to do this the right way. 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.”