Apparently, Vine 2.0 isn’t happening just yet, according to co-founder
We’ve previously reported the likely possibility of a reboot of the beloved video platform, Vine. The new release is to even carry a new name–Vine 2.0 or V2—and for this, we shared a kind of a tribute, sharing the most iconic vines of our time.
Now, the likelihood that we’ll see Vine again, in any shape of form, has plummeted. Taking to V2’s community forums, Vine’s co-founder, Dom Hoffman, explains: “When I announced that I was working on a follow-up to Vine, I also (perhaps foolishly) announced that it would be a personal project and personally funded. I underestimated the amount of enthusiasm and attention the announcement would generate. The interest has been extremely encouraging, but it has also created some roadblocks. Taking into account a larger-than-expected audience, we now know that the estimated costs for the first few months alone would be very high, way beyond what can be personally funded.”
Hoffman notes that in order for the V2 project to work, “it needs to operate as a company with sizable external funding, probably from investors.”
Finally, he concludes: “The code and ideas [of V2] still exist, but until everything else comes together, we can’t move forward.”