On Thursday, Twitter announced that it was ending Vine, a social media app with which users posted short videos often with humorous content. Twitter bought the app in 2012 for $30 million, hoping that it would increase revenues and the size of its user base. The death of Vine demonstrates how hard it can be for social media apps to survive and remain profitable. In another attempt to turn a profit, Twitter also announced that they will be cutting 9% of their employees. Twitter's newest idea to stay relevant is to live stream events such as Presidential debates and NFL games. The hope is that live streaming events will increase usage of the app and lead to a new source of revenue.
http://money.cnn.com/2016/10/27/technology/twitter-vine-fail/index.html
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