Is Elon Musk planning to bring back the Vine app?
Elon Musk, the world’s richest person and the current owner of Twitter, does not appear to be resting. Not even a week after accomplishing the $44 billion Twitter acquisition deal, the billionaire is now going to consider resurrecting Vine, an app that allowed users to capture and enjoy sharing an unlimited number of short, looping 6-second videos. Twitter ended up buying it in October 2012 and decided to sell it four years later.
Jack Dorsey, Twitter founder as well as former Chief executive officer, stated that closing Vine had been his “biggest regret.”
Now, the Twitter platform’s current owner or Chief Twit has directed Twitter engineers to get to work on a Vine relaunch, which could be ready by the end of the year. According to Axios, the developers have been instructed to take a look at the old code base of Vine, which has not been altered or updated since the shutdown.
A source told Axios that there’s a lot of work to be done. Extensive negotiations are currently happening inside the networking community about a potential Vine revival, according to a Twitter employee.
Elon Musk has been attempting to give hints about the reintroduction of the Vine app on Twitter, and he even started a Twitter poll asking if indeed the app should be reintroduced on Sunday. “Bring Vine back?” he demanded outrightly. A total of 4,920,155 votes had been cast in the poll, with 69.5 per cent in favour and one-third opposed.
The reason to reintroduce Vine
The reason Elon Musk may introduce Vine again is simple which is the revenue potential. TikTok is now not only the most popular app in the world but also one of the highest-grossing apps. According to Finbold data, the short-form video platform TikTok is one of the top social media platforms generating the most revenue.
The app obtained $2.5 million per day on Android and iPhone devices all over the world in September, excluding the iPad. This probably amounts to an hourly wage of around $104,000.
TikTok managed to earn $75.8 million in overall revenue during the month. TikTok competitors can also be found on Facebook and Google.
Why was Vine shut down?
Vine was brought down in October 2016 by Twitter. “Today, we are sharing the news that in the coming months we’ll be discontinuing the mobile app,” the company said in a statement.
Source: timesofindia.indiatimes.com
Though Twitter never said exactly what went wrong, the app struggled to grow its user base and find ways to make money. Vine once had a commanding lead over other social video apps, but it couldn’t keep up as competitors added features.
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