On October 27,
2016 Vine had stated that they would lay off 9% of their workforce, or roughly
350 people as they attempted to find a sustainable path forward (Wagner, 2016).
The cuts were not company-wide, but were heavily focused on Twitter’s marketing
and sales teams. Twitter declined to specify how many layoffs were affected at
Vine or whether or not any employees were being offered new jobs (Wagner,
2016). It is unfortunate that Vine never became the destination that Twitter
had hoped for but Twitter announced that they would not delete any Vines created
for now, as they appreciate what their users have done with the app.
After announcing its plan to shut
down Vine, Twitter received a large number of bids. Twitter narrowed the pool
from more than 10 bidders to around 5.
Several employees had quit, including Vine’s general manager Jason Toff,
who returned to Google to work on virtual reality (Kokalitcheva, 2016). The original co-founders of Vine also
gradually quit and moved on to their next social app called HYPE, which is a
live video broadcasting app that lets users add music and animations to their
videos (Constine, 2016). For now, the app is only available to a limited number
of users as the founders continue to test it.
Kokalitcheva,
K. (2016). Vine’s Co-Founders Already Have a New App. Retrieved
December 1, 2016, from http://fortune.com/2016/10/27/vie-founders-new-app-
hype/
Wagner, K. (2016). Twitter will cut 9 percent of its workforce,
or roughly 350
people.
Retrieved from http://www.recode.net/2016/10/27/13399872/twitter-layoffs-q3-
earnings
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