Twitter Still Might Save Vine By Selling It

In Technology

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Vine may survive after all. Twitter is currently vetting multiple term sheets from companies offering to buy Vine, and hopes to make a deal soon, multiple sources tell TechCrunch. After announcing its plan to shut down Vine last month, Twitter received a large number of bids, including several from Asia. It’s now working to decide who should run the short-form video app.

While TechCrunch couldn’t confirm the names of any of the companies interested in Vine, a rumored bidder was Japanese messaging and gaming company LINE. [Update: We’ve learned that Twitter has narrowed the pool from more than 10 bidders to around 5.

Twitter announced on October 27th that it planned to eventually shut down Vine, but keep the archive of Vines playable and allow users to download their content. But beyond clarifying some of the original announcement in an FAQ, it hasn’t made any further announcements about the future of Vine, which makes sense because it’s in active talks to sell the app.  Read More …