The six-second looping video hosting service was launched in the United States in June 2012 and acquired by Twitter by October of the same year ahead of its official release in January 2013. In 2015, the app had over 200 million active users but was effectively shut down just a year after.
A source told Axios that the app’s code, which has not been changed or updated since it was discontinued, “needs a lot of work.”
The move is seen as a step towards going head-to-head with TikTok, the Chinese-owned short-form video hosting giant. Musk on Sunday posted a poll to ask Twitter users if he should bring the platform back and received nearly 61% votes in favor.
YouTuber MrBeast responded to the poll, pointing out how it would be “hilarious” if Vine actually competed with TikTok, which made Musk ask “What could we do to make it better than TikTok.”
Information for this briefing was found via Axios, Twitter, and the sources and companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.