Vine may live on as Twitter supposedly looks for a buyer

Eric Abent - Nov 8, 2016
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Vine may live on as Twitter supposedly looks for a buyer

At the end of October, Twitter made the rather surprising decision to pull the plug on Vine by announcing plans to discontinue its mobile app. While we still don’t have a day the mobile app is scheduled to go offline, new reports suggest that may not actually happen. That is to say: Vine might be granted a reprieve assuming Twitter can find someone interested in purchasing it.

According to sources speaking to TechCrunch, there are actually multiple bidders interested in buying Vine. The term sheets from a number companies started rolling in once Twitter announced that Vine would be going the way of the Dodo. At one point, these sources say, Twitter had offers from more than 10 different companies, but it has since decided to consider five of those offers more seriously.

However, here’s where things may get a little complicated. Those sources also say that some of the offers coming in for Vine are on the low end as far as Twitter is concerned. With some of these suitors offering somewhere in the area of $10 million, Twitter may not view a Vine sale as something worth pursuing.

Whatever’s going on behind the scenes, the idea that Twitter is fielding these offers suggests that it’s at least reconsidering the decision to kill off Vine. Many folks around the internet reacted with sadness when the news was announced, though those reactions ultimately can’t count for much if Vine was proving too expensive to support.

We’ll see where it goes from here. There’s no confirmation of who, exactly, is looking to buy Vine, though Japanese company LINE has been rumored as a potential suitor. While Vine certainly isn’t out of the woods yet, there may be reason to hope that it will live on. Stay tuned for more.

SOURCE: TechCrunch


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