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Twitter recently talked with Microsoft, Google, Salesforce, Verizon, and some other companies for a possible acquisition. The CEO and co-founder of Twitter, Jack Dorsey reportedly didn’t want to sell the company, but the company did lay off hundreds of its workers recently. To be exact, reports claim that Twitter laid off 9% of its workforce (around 350 workers) and it also announced that it is killing Vine.
Now, it seems like Twitter may not end up killing Vine. Instead, it might be selling Vine. The company is reportedly in talks with other companies for a possible acquisition of Vine. The report comes from TechCrunch, which claims that Twitter received a “large number of bids” — interestingly enough, some bids were also from Asia. According to the report, some of the offers are under $10 million. For comparison, Twitter reportedly wanted at least $30 billion for its sale.
Apparently, the running cost for Vine is $10 million a month which is quite a lot. This also suggests that Vine might not be making a lot of revenue, which is probably why Twitter decided to kill the social network. It will be interesting to see who actually buys Vine in the coming weeks — however our guess is that it could be WeChat’s maker Tencent, or Baidu.
We’ll let you know if Twitter sells Vine — in the meantime, let us know if you used Vine in the comment section below.