Internet products come and go, and microvideo platform Vine -- which built itself on the notion of just 6 seconds of footage per video -- is set to be on the way out. Twitter purchased the startup for $30 million in 2012, launched it shortly after in October of that year, and in October 2016 announced it would be closing Vine's doors.
According to a report on TechCrunch that cites "multiple" unnamed sources, Twitter has received a large number of bids from interested parties looking to buy the app. (One of those parties may be adult website Pornhub.) This could be attractive for Twitter, which had planned on discontinuing the mobile app, but keeping Vine videos already in existence available for viewing and download.
Twitter's announcement that it was killing Vine came after its third-quarter earnings call, in which the company announced it was laying off 9 percent of its workforce, or 350 jobs.
Twitter declined to comment.