Twitter is officially shutting down Vine and laying off workers after it launched the service in January 2013 that lets users post 6-second video clips.
For a short while, the app gained notoriety and gave birth to many social influencers amassing billions of loops who used the service to record their antics and highly entertaining viral vides.
In the face of growing competition from newly launched live streaming apps, Vine was struggling to find its place on the web, while advertising revenue was stagnant.
According to The Verge, Twitter is axing 9% of its workforce which amounts to 350+ employees in a cost-cutting measure to improve profitability.
It is not yet clear when the shutdown date will be for Vine or whether users will be able to keep their Vine libraries.
Faced with stiff competition from a host of apps including Snapchat, Instagram, Busker, and AOL’s Kanvas, Vine has struggled in recent months to maintain its place in the online experience of young internet users and content creators.
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