vineTwitter last week announced plans to shut down Vine, but it looks like the video sharing service could potentially live on as Twitter is currently entertaining multiple purchase offers.

According to TechCrunch, Twitter is vetting term sheets from several companies who are offering to buy Vine and "hopes to make a deal soon." Its not known which companies have made offers for Vine, but one rumor suggests Japanese company Line is in the running.

One source says that at least some of the offers are for under $10 million, indicating Twitter might not generate significant revenue directly from selling Vine.

However, Vine could still benefit Twitter even if it's owned by someone who would help it thrive and retain the strong integration between the two apps. Vine content plays instantly in the Twitter stream, bolstering its current parent company's quest to serve more video that could attract user engagement.

First introduced in 2013, Vine lets users capture six-second-long looping video clips that can be shared on social networks like Twitter and Facebook. Vine has had some stiff competition in recent years from companies like Snapchat and Instagram, leading to Twitter's decision to shut it down.

Should Vine not be sold, Twitter plans to shut it down "in the coming months." The Vine website will remain intact so Vines will continue to be available to watch and download, though no new content will be able to be created.

Vine's demise comes in the midst of significant layoffs at Twitter. In October, Twitter let go of nine percent of its staff, or 350 people, in an effort to cut costs and restructure its priorities.

Tags: Twitter, Vine

Top Rated Comments

jdillings Avatar
77 months ago
I heard Myspace is making a bid
Score: 3 Votes (Like | Disagree)
asleep Avatar
77 months ago
There are a lot of sports Vines that need to live on.
Score: 1 Votes (Like | Disagree)
KALLT Avatar
77 months ago
Honestly I thought Twitter announcing that they were shutting it down was so they could have a spike of some popularity and have another company step in and take it.
You think so? I think they probably lost a lot of goodwill now. The uncertainty about its future and the announcement that it will be shut down in the absence of a takeover should diminish any interest in it. Add it to the long list of bizarre decisions at Twitter.
Score: 1 Votes (Like | Disagree)
LordQ Avatar
77 months ago
I read that a porn website wanted to buy it: http://bit.ly/2ePwEQY
Score: 1 Votes (Like | Disagree)
Born Again Avatar
77 months ago
who has time for this $@#)$
Score: 1 Votes (Like | Disagree)
deannnnn Avatar
77 months ago
I actually really love Vine. It's not massively popular like it briefly was when it first launched, but it has a really dedicated, loyal community that really love the app and for those people, myself included, I feel like it's worth keeping around. This is great news in my book.
Score: 1 Votes (Like | Disagree)

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