Twitter to shutter Vine video platform to boost bidder appeal 
Twitter is to shutter the mobile app for Vine, the short-form video sharing service it acquired in 2012, in the coming months. The social media platform is used by hundreds of millions of people each month and brands including GE, Honda and Fanta but has failed to eclipse other video-friendly platforms such as Facebook and YouTube. Twitter has reassured users that the Vine website and existing individual Vines will still be accessible. Clickz suggests the move is aimed at improving Twitter's financials to boost its appeal as bidders for its acquisition look scarce after Google and Disney reportedly backed off. 

Yesterday, Twitter announced that it will be discontinuing the mobile app for Vine, the short-form video sharing service that it acquired in 2012.

Used by hundreds of millions of people monthly, Vine carved out a niche on the social web by being easy to use, engaging and entertaining. Despite the fact that it never eclipsed other video-friendly social platforms like Facebook and YouTube in popularity, Vine was home to a large number of influencers and brands such as Honda, Fanta, FedEx, GE, Lowe’s and Dunkin’ Donuts had run Vine campaigns over the years.

But those influencers and brands will have to look elsewhere now that Twitter will be shuttering the Vine mobile app in the “coming months.” The company sought to reassure users that there would be a smooth transition, stating:

Nothing is happening to the apps, website or your Vines today. 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.

Not surprisingly, however, many were not pleased with the news that Vine is effectively going to be retired and took issue with the suggestion that Twitter is “do[ing] this the right way.”

One commenter, Sam Cornwell, wrote, “I am in absolute shock. This is one of the top ten social media platforms on the planet. I know many, many creators who’ve built entire careers (and lives) on Vine.” Search Engine Land’s Danny Sullivan also noted the impact on creators and influencers, tweeting “Twitter dumping Vine means it exits talent wars.”

Twitter dumping Vine means it exits talent wars https://t.co/DJ61KhBPQT — Now stars left with Facebook & YouTube https://t.co/QZCsIiFGlb https://t.co/H7JCeYreIm — Danny Sullivan (@dannysullivan) October 27, 2016

But Twitter is trying to sell itself, and with potential suitors like Google, Disney and Salesforce reportedly backing off, the company apparently believes it needs to take strong action to bolster its financials, which could make Twitter more appealing to an acquirer.

The news about Vine came at the same time as Twitter announced that it will be laying off 9% of its workforce, or 350 employees, as it seeks to turn a profit in 2017.

For creators and brands using Twitter and its remaining properties, which include live streaming platform Periscope, Twitter’s financial priorities mean additional changes could be in store in the coming months.