Twitter Acquires Yet-to-Launch Video-Sharing Startup Vine
Twitter has just purchased a small video creation and sharing company based in New York for an undisclosed amount. What’s particularly interesting about the acquisition is that the startup has yet to actually launch.
According to All Things D, Twitter has just acqui-hired Vine, a startup founded by former JetSetter employees Dominik Hoffman and Colin Kroll. They say that the acqui-hire may not be entirely traditional, as Vine may be able to survive as a standalone service.
Vine has not yet launched, but the do have a site. Its landing page says:
Vine is the best way to capture and share video on your iPhone. No editing. No rendering. No post-production. Video has never been this fun.
We’re not ready for you yet, but we will be soon. Sign up below to be notified when Vine is released.
Future users can enter an email address and be notified when it launches. That will obviously be impacted by this acquisition. Vine was officially founded back in June, according to Hoffman’s LinkedIn page.
This news comes on a day where reports say that Twitter is in the early stages of developing their own video-hosting service that would eliminate the need for third-party hosting from companies like yFrog and TwitVid. Hiring the founders of a video-sharing site would seem like a move that’s compatible with this venture.