Twitter’s announcement that it will shut down its Vine app, its service launched in 2013 that allows users to create 6-second videos, was a shock to many. But as Statista notes in a chart from Markerly, the decline of users has been in the works. Notably, 52% of users with 10K or more followers (the top 1%) have not posted a video in 2016. Twitter also confirmed a round of layoffs (9% of the workforce) when it announced its third quarter results last week, which is in line with its strategy to more fully fund all aspects of the company and enhance efficiency. This decision comes in the wake of a potential Twitter sale that fell through, with Google, Disney and Salesforce reportedly interested.
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