OH NO! What’s Happening to Social Media?! on theFeed!
Looks like Vine is getting canned by Twitter! You have seven seconds to mourn.
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Big drama in the land of social meeds.
Twitter saw some much needed good news when the company released their third
quarter 2016 earnings, showing an 8% increase in revenue since last year.
However there’s also some bitter news.
9% of their staff was dismissed, amounting to 350 people who are now back to job
Twitter’s CFO said in a press release that the company is de-prioritizing certain initiatives
and simplifying how they operate in other areas.
The even bigger news here though is that the company announced they will be shutting
Twitter purchased Vine for $30million back in 2012 as part of its video strategy, however it
hasn’t proved to be a successful investment.
How sad, we have to put our social media to rest. And how are you guys handling the
Let’s keep us Twitter alive and let us know what you’re thinking @digitalmusicnews, and
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