Twitter is shutting down Vine

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Twitter is shutting down video-sharing service Vine "in the coming months," the company announced Thursday. Vine, which lets you share short video clips, debuted in 2013. Twitter acquired Vine in 2012 before the service had even launched.

The news comes the same day Twitter announced it would lay off more than 300 workers, or 9% of the company's global workforce, within the company's sales, partnerships, and marketing teams.

"Nothing is happening to the apps, website or your Vines today," Twitter said in a release, adding that users will be given a heads-up and be able to download their Vines before the app shutters for good.

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Jack Dorsey, interim chief executive officer and co-founder of Twitter Inc., left, talks with Venture capitalist Aviv 'Vivi' Nevo while arriving for a morning session during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Thursday, July 9, 2015. Billionaires, chief executive officers, and leaders from the technology, media, and finance industries gather this week at the Idaho mountain resort conference hosted by investment banking firm Allen & Co. Photographer: David Paul Morris/Bloomberg via Getty Images
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Jack Dorsey, CEO of Square, Chairman of Twitter and a founder of both ,holds an event in London on November 20, 2014, where he announced the launch of Square Register mobile application. The app, which is available on Apple and Android devises, will allow merchants to track sales, inventories and other data on smartphones and tablets. AFP PHOTO / JUSTIN TALLIS (Photo credit should read JUSTIN TALLIS/AFP/Getty Images)
Jack Dorsey, co-founder of Twitter Inc. and founder and chief executive officer of Square Inc., right, and Suzanne McKechnie Klahr, founder and chief executive officer of BUILD, stand for a photograph during the 2014 BUILD Gala in San Francisco, California, U.S., on Saturday, March 1, 2014. BUILD is an innovative, college preparatory program, whose mission is to use entrepreneurship to direct low-income high school students to college and careers. Photographer: David Paul Morris/Bloomberg via Getty Images
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Jack Dorsey, co-founder and chairman of Twitter Inc. and co-founder and chief executive officer of Square Inc., stands for a photo following an interview at Just Baked Cupcakes in Detroit, Michigan, U.S., on Tuesday, Sept. 17, 2013. Twitter Inc., which announced plans last week for an initial public offering, is still deciding whether to list on the New York Stock Exchange or Nasdaq Stock Market, setting off a horse race for the high-profile deal. Photographer: Jeff Kowalsky/Bloomberg via Getty Images
FILE - This April 24, 2013 file photo shows Twitter co-Founder Jack Dorsey at a campaign fundraiser for Democratic Candidate for Public Advocate Reshma Saujani in New York. Disney is adding Twitter Chairman and Square CEO Jack Dorsey to its board of directors. Walt Disney Co. says Dorsey is joining the board effective immediately. He will stand for election to a full term at the companyâs annual meeting on March 18. (AP Photo/Mary Altaffer, FIle)
Jack Dorsey, chairman and co-founder of Twitter Inc., center, speaks as New York City Mayor Michael 'Mike' Bloomberg, right, and San Francisco Mayor Edward 'Ed' Lee listen during a press conference in San Francisco, California, U.S., on Friday, June 14, 2013. Dorsey, Mayor Bloomberg and Mayor Lee announced today that they will co-host the second annual Bloomberg Technology Summit to be held in New York on September 30. Photographer: David Paul Morris/Bloomberg via Getty Images
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Jack Dorsey, co-founder and chairman of Twitter Inc. and founder and chief executive officer of Square Inc., pauses while he speaks to the media at the Massachusetts Institute of Technology (MIT) in Cambridge, Massachusetts, U.S., on Monday, Sept. 24, 2012. Square Inc., the mobile payment startup founded by Dorsey, is giving small merchants more flexibility in how they pay for credit-card transactions, increasing competition with PayPalâs rival card reader. Photographer: Scott Eisen/Bloomberg via Getty Images
DETROIT, MI - SEPTEMBER 12: Jack Dorsey, Chairman of Twitter and CEO of Square, speaks with the media after speaking at TECHONOMYDETROIT September 12, 2012 in Detroit, Michigan. The event, hosted by the Detroit Economic Club, is a one-day multidisciplinary gathering of national and local leaders about reigniting U.S. competitiveness, creating jobs, and revitalizing our cities in a technologized age. (photo by Bill Pugliano/Getty Images)
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Twitter will be keeping Vine's website up indefinitely. "We think it's important to still be able to watch all the incredible Vines that have been made," the company said.

Vine had struggled recently to retain its top creators. By July, over half of Vine's top 9,725 accounts had either deleted their profiles or stopped posting to the platform since the start of 2016, according to research by Makerly. This data corroborated an earlier report in The Wall Street Journal that Vine's stars were leaving for competitors like Facebook, Instagram, and YouTube. One, Cameron Dallas, even snagged his own Netflix show.

At the time of the report, Twitter told The Washington Post that Vine was still "an important part of our strategy."

While Vine was a pioneer in short-form video, and popularized the 6-second loop, it failed to innovate on top of this core offering and protect itself from rivals.

Vine's shutdown comes at a time of unrest for Twitter, with stagnant user growth and swirling rumors of a sale.

Companies that have reportedly taken a look at snapping up Twitter in recent weeks included Disney, Softbank, Google, and Salesforce. There are reasons some suitors are wary. Salesforce CEO Marc Benioff said he walked away from a deal owing to Twitter's price, work culture, and the amount of abuse on the site.

Here is the full statement from Twitter:

Important News about Vine

Since 2013, millions of people have turned to Vine to laugh at loops and see creativity unfold. Today, we are sharing the news that in the coming months we'll be discontinuing the mobile app.

Nothing is happening to the apps, website or your Vines today. We value you, your Vines, and are going to do this the right way. You'll be able to access and download your Vines. We'll be keeping the website online because we think it's important to still be able to watch all the incredible Vines that have been made. You will be notified before we make any changes to the app or website.

Thank you.Thank you. To all the creators out there — thank you for taking a chance on this app back in the day. To the many team members over the years who made this what it was — thank you for your contributions. And of course, thank you to all of those who came to watch and laugh every day.

What's next? We'll be working closely with creators to make sure your questions are answered and will work hard to do this the right way. We'll be sharing more details on this blog and our Twitter account, and will notify you through the app when we start to change things.

- Team Vine & Twitter

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