Vine founder expresses seller's remorse after Twitter pulls the plug on the video service
The founder of Vine has issued regret at the closure of the short form video service, after he was brought into the loop that Twitter was indeed pulling the plug.
Vine founder Rus Yusupov
Rus Yusupov, who sold the company to Twitter in 2012 for $30m, mere months after it launched, has issued a stark warning for startups.
He tweeted: “Don’t sell your company!”
Don’t sell your company!
— Rus (@rus) October 27, 2016
Now Twitter will discontinue the mobile app – uploaded Vines will be available for download but no longer will creators be able to upload new Vines.
It all comes as part of a cost-saving exercise from Twitter, which recently announced it was letting a tenth of its workforce go as it tries to become an attractive Wall Street acquisition.