Twitter is Shutting Down Vine!

Twitter did not only revealed that it will be cutting 9% of its workforce following slow growth company, but also announced on Thursday that it will be shutting down Vine.

It's clear that the social network that allow users to share six-second-long video clips couldn't compete with Snapchat and Instagram.

"In the coming months we'll be discontinuing the [Vine] mobile app," the company said in a blog.
"Nothing is happening to the apps, website or your Vines today," the blog added.

Twitter bought Vine in 2012 for a reported $30m, but has ever since integrated a separate video facility into Twitter's main platform, and acquired and launched the livestreaming app Periscope.

"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."
It added that users would be notified before it made any changes to the Vine app or website.

According to reports, Twitter is trying to rebrand itself as a source for live news.

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