Vine is no more; or at least it will be in the coming months. Twitter announced that the video sharing service is being shut down, with the mobile app being the first to go. Despite this, there is still no word on what is going to happen to all those uploaded videos.
Nothing is happening to Vine just yet, as the app and service is still currently running. Twitter is also supposedly keeping the website running for people to view Vines, but it looks like no new content will be uploaded once the app is disabled.
Twitter had earlier announced that it was reducing its workforce by 9-percent. It is speculated that the 300 or so affected employees were from the Vine development team. At least the timing of the two announcements would indicate that there is some correlation between them.
Things are not looking good for Twitter, which has been unable to monetise its massive userbase. This has translated into a massive company that is rapidly losing money. An attempt to sell Twitter failed after interested parties like Yahoo and Salesforce.com back out.
For now, it looks like the beginning of the end for Twitter; and things will only get worse unless CEO Jack Dorsey finds a revenue stream that works for the company.