The Mistakes That Shut Down Vine
The Mistakes That Shut Down Vine
Vine launched in 2013 and instantly became a massive hit. It changed social media forever, launching a new kind of social media star into mainstream popularity. By the end of 2016, it was shut down....
Highlights
- Vine was acquired by Twitter for $30 million in 2012, with founders receiving approximately $10 million each
- Vine had 200 million monthly active users by the end of 2015
- Vine lacked a personalized recommendation system throughout its entire existence
- Jack Dorsey split his time as CEO of both Twitter and Square simultaneously
- At least 10 senior employees left the Vine team in mid-2016 after Hannah Donovan was brought in as the new general manager
- TikTok was not founded until 2017, after Vine began its decline
- Vine creators were not under contract with Twitter and had no revenue sharing agreements
Notable quotes
“don't sell your company $10 million is great it's more than enough money to live on you can go out and party and buy boats and cars and houses but if you really want to build something then what you need isn't a check it's control”
“it should have been obvious to leaders at Twitter Google or Facebook that a dedicated video application optimized for mobile devices was going to be a huge hit”
“Vine was a great idea people want to watch videos on their phone that are designed to be viewed on the phone but ever since Vine launched in 2013 the ecosystem's been a mess”
Entities
- Google· company
- Meta/Facebook· company
- Square· company
- Twitter· company
- Colin Kroll· person
- Dom Hoffman· person
- Elon Musk· person
- Hannah Donovan· person
- Jack Dorsey· person
- Jake Paul· person
- Jason Toof· person
- Russ Yusupov· person
- Instagram· product
- Periscope· product
- Snapchat· product
- TikTok· product
- Vine· product
- YouTube· product
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