Vine founder expresses seller's remorse after Twitter pulls the plug on the video service
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.