tech2 News StaffNov 08, 2016 10:28:12 IST
TechCrunch reported that Twitter has recieved offers to buy out its looping video sharing service, Vine. Apparently there was a spike in interest around the stagnating service after Twitter announced the shut down of the app. Vine may now get a second life thanks to parties interested in buying the service from Twitter. TechCrunch initially reported that there were more than 10 interested buyers, but it was later revealed that Twitter had narrowed down the pool of potential buyers to 5.
Twitter may not generate revenues directly from the sale of Vine though. This is because some of the bids they have recieved is said to be as low as $10 million. $10 million is how much it costs to keep Vine up and running for a month, including the cost of infrastructure and employees. Just keeping Vine up and running was expensive for Twitter, which is why Twitter took the decision of sunsetting the service.
There is no solid information on who the potential buyers could be, but PornHub had earlier shown its interest, and the TechCrunch report says that one of the rumoured buyers is the Japanese Instant Messaging community, Line. It would be harmful to Twitter if the buyer deleted the library, or the back catalogue of content, something they assured users would remain available even after shutting the service.
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