Twitter announced its decision to close down the Vine service, last month but now the company is evaluating the option of selling it to interested buyers. Twitter has been going through a tough time generating profits from some time and the decision to sell Vine can really help them to tackle the problem.
Earlier, Twitter was struggling to find a buyer for Vine but according to TechCrunch’s report, the company has narrowed down the list of 5 interested buyers and the major bids are coming from Asia. Japanese messaging app Line is considered one of the top contenders in the bidding process.
However, the bids are around 10 million Dollars (Twitter spends $10 million each month on the operation of Vine, how ironical) and the sale alone will not help Twitter to recover from the current financial crises but as the saying goes, ‘Something is always better than nothing’ and there is also a possibility of an increase in bidding quantity.
There is another way that Twitter can still earn profits after Vine’s sales. The six-second Vine Videos are exclusively played on Twitter and the company can gain more views through them.
Twitter is desperately trying to keep the sale under wraps and one such step was taken on Monday when the company issued a new update:
Twitter, which currently has 313 million average monthly users, introduced Vine in 2012 and it became an instant hit among the users. However, the service lost its charm against the rivals like Facebook’s Instagram and Snapchat.
09 November 2016