Vine was one of the most popular social media networks. It was loved by a huge segment of Internet audience and social media followers. One major aspect of the platform that was a magnet for all was its incredible post-to-meme ratio which is i suppose the largest and most fantastic till date.
After it was taken down, recently one of its co creators Dom Hoffman announced that vine will be back, after hearing this the lovers of the platform were left simply joyfully teary eyed. But then as it always happens, the reason to be joyful is taken away from the innocent audience. It is announced that the project is postponed for an indefinite amount of time.
— v2 (@v2app) May 4, 2018
It is reported that the expenses to set it right and its legal fee was way too high. The project in order to reboot required a lot of external funding. Since Hoffman had his attention splitted on his other startup project, investors did not find it the right kind of atmosphere to put their money in.
For now we know that it id going to take a lot of time and we do not know how much for the project to resume. The good thing on the other hand is that Hoffman had not entirely dropped the project. Something might come out of his efforts.
Abandoning the project entirely will be a reckless and maybe not a good idea for both Hoffman and the people who loved Vine. For V2, the codes and the idea is still in place, it is the external expense that Hoffman says is being very difficult to manage.