Hoffman didn't provide much info on the second-generation Vine app, but he did say that it was self-funded and would be released at some point in 2018.
It doesn't look like that's going to happen, though, as Hoffman today announced that the Vine 2 project has been postponed for an "indefinite amount of time" citing legal and financial reasons.
Vine 2, he says, will not work as a personally funded project and it needs to operate as a company with "sizable external funding," which he does not have the resources to start up at this time due to his work on Interspace and Byte.
The code and ideas still exist, but until everything else comes together, we can't move forward.The community forums that were set up for the Vine 2 project will continue to be available for community members who had joined, and Hoffman says that any changes to future Vine projects will be announced there.
Again, this is indefinite, which means that it could take a long time. But it's necessary.
I'm very, very sorry for the disappointment. If it's any consolation, I think it would have been even more disappointing if this service had been developed and released incorrectly, which is where we were headed. I'd like for us to get it right.
Vine was founded in June of 2012 and was acquired by Twitter before its launch in January of 2013. The Vine service became a huge hit after launch and it developed a dedicated fan base, but after it began to wane in popularity, Twitter decided to shutter it.
Twitter has turned the original Vine app into Vine Camera, an app that allows users to create six-second video loops that can be shared on Twitter.