Over a week ago, Twitter announced that it would be shutting down Vine with the withdrawal of its mobile apps, leaving only its website in operation for users to view their six-second creations. While Vine still has yet to formally announce if, or when, their mobile apps would be removed, the short-form video sharing service attracted an unexpected bid from Pornhub.
Now, it seems that Twitter has received ten offers for the fledging service, but has gradually reduced that number back down to approximately five under consideration. With some offers for Vine reportedly coming in below the $10 million mark, leaving open the possibility that Twitter may not break even on its original acquisition of $30 million.
However, the outcry against the shutdown of Vine has apparently piqued the interest of potential buyers who now may be more willing to bear the financial overheads, at least in the short term. Over the years, Vine has increased its cultural impact on the internet, which, in itself, could be of significant value in an acquisition, despite the recent loss of users and top content creators.
While it remains to be seen if Twitter will follow through with a sale, and, if so, to whom Vine would be sold, the company could end up being forced to act sooner rather than later. After having reportedly been an acquisition target of Microsoft, Disney, and Verizon along with another round of layoffs, Twitter may need to act swiftly and decisively to get its finances into better shape.
Source: TechCrunch
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