A new report by TechCrunch claims that Twitter is currently considering some offers given to them for a possible acquisition of Vine, the video sharing platform recently announced to be shutting down. Apparently, lots of Asian companies seem to be interested, while Twitter is currently considering who would be best to run the platform and hopefully bring it back to life as the social media giant failed to do so.
Twitter is currently vetting multiple term sheets from companies offering to buy Vine, and hopes to make a deal soon, multiple sources tell TechCrunch. After announcing its plan to shut down Vine last month, Twitter received a large number of bids, including several from Asia. It’s now working to decide who should run the short-form video app.
Thanks to Twitter not being able to turn a profit, it makes sense for them to begin shutting down some of its departments, with Vine being one of them. By ex-ing out this portion of their company, they’ll likely be able to make some cash back, but there’s still no promise. Then again, if the Giant Blue Bird does sell Vine, surely they’ll gain some greenbacks after the deal closes. Therefore, this could be one of the main reasons to sell Vine rather simply shutting it down for good.
Another possible reason why Twitter would want to sell Vine could be so someone can bring it back to life. Currently, Vine is kind of pointless unless you live for six-second video loops, so by adding some extra abilities and features to the platform, a larger user database may grow. If a total redesign and rethinking of Vine took place and became active for the entire world to use, I’d probably sign up for an account and check it out. But for now, in the words of Mr. Wonderful himself, Vine is dead to me.
Overall, it’s probably a safe bet to make that Twitter will sell Vine. If talks between companies move swiftly enough, expect more on this subject in the next week or so. We’ll follow up once we hear more.
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