Twitter is shutting down Vine, the popular mini video-sharing smartphone app that introduced "Vines" and coined the term. Although an exact deadline has not been announced, it can happen anytime in the next few months.Twitter pulling the plug on Vine is now a reality. As the first and the original viners’ platform will be discontinued from service, many viners could feel disappointed. The company first shared a link to the "important news" via its official twitter account, redirecting users to Medium, where the official explanation was published in a blog.

"Nothing is happening to the Apps, website or your Vines today.

We value you, your Vines, and are going to do this the right way," the official Vine blog read. Viners were also convinced that their websites will be kept online and the previously created vines will be preserved.

This is one of the most crucial powering down of a social media service, surfed by as many as 100 million people summing up to over 1.5 billion daily views. Founded in June 2012, Vine is popular mainly due to genres like sports, funny clips, and highlights; boosting up the app’s usage to such enormous numbers.

Four years of Vining

After acquiring the platform back in October 2012, Twitter is shutting it down to control the outgoing expenditures in the face of thefinancial crisis it is currently facing.

In recent years, Vine had failed to grow progressively, even though it was later integrated into Twitter’s mobile.

The last effort by the company was beta testing longer videos, but running Periscope on the parallel, the tech giant eventually decided to let the latter grow under the current financial circumstances.

Periscope had just landed on the Twitter appand seemed to be favored more.

Why isTwitter shutting down Vine?

The decision comes a day later after Twitter announced hundreds of layoffs on Oct. 27, Wednesday. Although the quarterly results had shown an improved revenue of $616, the number of active users also showed a boost of an additional 4 million users.The Guardian reports that Twitter stock was “down by more than 25% this year” and only showed a small progress in pre-marketing trade.

Vine founder Rus Yusupov has expressed deep regret over the news.

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