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Twitter’s popular micro-video platform Vine is heading towards bankruptcy as a result, Twitter will axe its service. When they announced the news on Twitter, Pornhub came to its rescue, Cnet reports.
Twitter Axing Vine
Vine is a pioneering short-form video style social media site where users share six-second-long looping video clips. The application is shutting down in the face of disappointed fans. “Today, we are sharing the news that in the coming months we’ll be discontinuing the mobile app…..Thank you for taking a chance on this app back in the day,” Vine wrote in a post.
Back in 2012, Twitter had purchased Vine, a startup in a $30 million deal six months. Yesterday, news came out on Vines’s third-quarter earnings and that they have laid off 9 percent (350 people) of its workforce. “We intend to fully invest in our highest priorities and are de-prioritizing certain initiatives,” Twitter said in a statement. Shortly after the news of shutdown emerged, Vine’s founder, Rus Yusupov, spoke out against the decision.
Don’t sell your company!
— Rus (@rus) October 27, 2016
Pornhub Offers to Buy Vine
“We figure since Twitter has dropped (Vine) and is having significant layoffs, that you and your stakeholders could benefit from a cash infusion from the sale of Vine. Not to mention we would be saving Vine gems like ‘Damn Daniel,’ ‘Awkward Puppets’ and many more,” Pornhub vice president Corey Price wrote in a letter to Twitter chief executive Jack Dorsey, given to tech website CNET. Price promises they’ll “restore Vine to Its NSFW glory,” because the clips “of porn in six seconds is more than enough time for most people to enjoy themselves.”
Pornhub is expanding. A week back we reported that Pornhub videos are compatible with PlayStation VR headset that launched on October 13. Analysts predict that the VR industry can generate as much as $40 billion in revenues by 2020. The porn industry is likely to take a major chunk home.
