Twitter in Talks to Sell Vine (Report)

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Vine may not be shuttered, after all: Twitter has been approached by multiple companies looking to sell the six-second video sharing service and is now evaluating those bids, according to a Techcrunch report. Some of these possible acquirers are apparently from Asia, with rumors pointing to Japanese messaging app Line as one suitor.

Twitter announced its plans to shut down Vine last month. The company said at the time that it wanted to keep the Vine website and video archive online for the time being, but turn off the service’s mobile apps within the next couple of months. The news came shortly after Twitter told investors that it was cutting its workforce by 9 percent.

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Operating Vine reportedly costs Twitter $10 million a month. Coincidentally, some of the offers that Twitter got for Vine are for less than $10 million, according to Techcrunch.

Vine’s popularity has waned over the last two years with the growing popularity of Snapchat and video on Instagram, and many creators stopped posting on the service months ago. News of a impending shut-down of Vine nonetheless caused for an uproar amongst internet users, which could potentially have swayed Twitter towards selling the service.

A Twitter spokesperson declined to comment on the report.

Separately, Vine announced Monday that it was building a tool to allow users to export their Vines.

 

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