Topline
Twitter’s new billionaire boss Elon Musk tasked staff with growing a brand new model of the defunct video platform Vine, Axios reported Monday, shortly after Musk floated the concept in a tweet, demonstrating the sway of public opinion on Musk as he remodels the social media service within the mould of his $44 billion imaginative and prescient.
Vine could return six years after shutting down.
Key Info
Vine may very well be relaunched as quickly as this 12 months, sources informed Axios.
Twitter purchased Vine, a short-form video app that’s broadly thought of the direct predecessor to TikTok, for a reported $30 million in 2012 earlier than shutting down the app in 2016.
Information of Vine’s potential resurrection comes lower than 24 hours after Musk tweeted a ballot asking if there was curiosity in bringing again the service, receiving 4 million votes, greater than two-thirds of which—or 2.8 million customers—supported restoring Vine.
Key Background
Musk solely formally took management of Twitter late Thursday, however the richest particular person on earth (or Mars) has already made sweeping modifications on the firm, firing its CEO Parag Agrawal and different high executives, planning to fireplace about 25% of all Twitter workers and reportedly contemplating charging $20 monthly for a verified badge. Musk typically groused about Twitter’s content material moderation guidelines earlier than closing the deal, although he mentioned Friday he gained’t make any main choices till a “various” council can weigh in. The unique Vine consisted of six-second largely humorous video clips, and lots of the app’s hottest customers migrated to TikTok. The video area is way extra aggressive right now than throughout Vine’s reign, with Meta’s Instagram Reels and Alphabet’s YouTube Shorts additionally main gamers within the area.
Essential Quote
“💯,” Musk replied to a Twitter person Sunday night time requesting Vine be built-in inside Twitter versus residing in a separate app.
Additional Studying
Scoop: Musk crew working to reboot Vine this 12 months (Axios)
A Verified Badge On Twitter Might Value Customers $20 A Month, Report Says (Forbes)
Twitter Layoffs: Right here’s What We Know (And Don’t Know) About Musk’s Plans (Forbes)
