Vine is up for grabs according to a new report that claims its parent company Twitter is considering multiple bids for the platform.
Twitter broke the hearts of many viral video enthusiasts last month by announcing it was shutting down the video-looping app. While the internet let out a collective sigh, Twitter itself was inundated with offers for the platform, despite the fact that its output was slowly grinding to a halt.
Twitter is now figuring out who it should sell to, having narrowed down the pool of prospective suitors to just five companies, according to multiple sources who spoke to TechCrunch. A number of the interested parties are reportedly from Asia, though the only name mentioned thus far has been Japanese messaging giant Line.
Considering Vine is lacking both influential creators (who have migrated to YouTube, Facebook, and Snapchat), the actual bids being put forward are less than remarkable for a platform that once boasted 100 million monthly users. One source close to the matter claims some of the offers are for less than $10 million.
Rumors regarding a Vine sale have been circulating for months, with The New York Times previously claiming that Twitter was looking to wash its hands of the costly platform, which was setting it back $10 million just to keep it running.
Like Periscope, Vine boasts a number of integration features with Twitter’s flagship site, such as auto-playing videos on the Twitter timeline. Consequently, Twitter could potentially build additional revenue from a sale using monetization options, such as ad sales.
Despite its demise, Twitter promised that Vine videos would be archived and available to view online — the app itself is due to shut down in the coming months. Members will also have the option to download their Vines courtesy of an exporting mechanism the company is currently building.
It seems it was the outpouring of love online for the platform that sparked the bidding process. Shortly after the news broke of its death, the internet (in particular Twitter) was flooded with odes to the service as users reminisced about its glory days by sharing their favorite Vines. This latest report gives fans some hope for the future of the platform.
It must be noted, however, that an acquisition could also end up radically altering the service and Twitter’s plans for its preservation. Ultimately, Vine may end up surviving, but not as we know it.